Human Capital and Economic Growth——and the Discussion about Poverty Trap of Economic Growth

Human capital is the source of economic growth,and inadequate human capital undermin es long-term economic growth,makes economic development stagnant and drags it into the poverty trap.From 1978 to 2007,China’s human capital and physical capital experienced great disparity in growth.In contrast with the rapid growth of physical capital accumulation,human capital accumulation is seriously insufficient and the ratio of human capital stock to the physical capital stock declines year after year,which will certainly affect the long-term economic growth.It is therefore urgent to increase investment in human capital to ensure steady and sustained economic development..