What is Human Capital?

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What is Human Capital ?
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By the time we've been alive two or so decades,
many of us will have picked up some skills,
possibly a little work experience, hopefully some
sense of direction. We might even find we are now
reasonably attractive to an employer. We have
become human capital.
What is Human capital How it began?
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Three centuries ago, there lived a political
economist called Adam Smith, and to him the key
to business success was clear. Production
depended on four types of fixed capital tools,
buildings, land and the acquired and useful
abilities of all the inhabitants or members of
the society. Working humans had become a form of
capital, like natural capital or economic
capital. But this mechanistic analysis didnt
pass into common usage until after 1928, when
English economist Arthur Cecil Pigou immortalized
it in a book. "There is such a thing as
investment in human capital as well as investment
in material capital, he wrote.
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Why human capital is a good thing In the 1960s,
the term human capital was made popular by two
American economists, Gary Becker and Jacob
Mincer, who used it to describe the mixture of
skills, knowledge, experience, habits and
personality in each of us that can be put to
productive use. At that time people did not know
what is human capital or if there's any capital
by that name.
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Thank You