Balanced Selection of Human Capital's Accumulation in China's Economic Growth
Haiying Liu
Abstract
Haiying Liu
Abstract
Growth of human capital comes from the accumulation of individual labor's knowledge and skills. Different distributive state of knowledge and skill may result from that human capital's growth selects the balanced or unbalanced ways in the economic system. The empirical study proves that the unbalanced distribution of human capital results in the direct decrease of human capital. Education is the most important way to increase human capital in China. Under the same condition of the investment cost of human capital, the effective way for human capital's growth is to distribute more opportunities of education to the ordinary labors that have less human capital.
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Growth of human capital comes from the accumulation of individual labor's knowledge and skills. Different distributive state of knowledge and skill may result from that human capital's growth selects the balanced or unbalanced ways in the economic system. The empirical study proves that the unbalanced distribution of human capital results in the direct decrease of human capital. Education is the most important way to increase human capital in China. Under the same condition of the investment cost of human capital, the effective way for human capital's growth is to distribute more opportunities of education to the ordinary labors that have less human capital.
Key concepts: Human capital, Capital deepening, Physical capital, Economics, Individual capital, Economic capital, Financial capital, Capital intensity