What Are the Different Types of Human Capital Services?

Human capital, as an input element of economic production, directly participates in the economic production process. In the production process, due to the increase in the human capital stock, it is reflected in the improvement of labor quality. The improvement of labor quality improves the labor productivity, which increases the output of various sectors and GDP, and increases the total social and economic total. This economic effect of capital is called the direct effect of human capital stock.

Human capital stock

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Human capital as

The first is "double height" , which is necessary for economic growth in the region

The direct effect of human capital stock is:

First, the growth of human capital has increased the value of human time. The key to the growth of human time value is the increasing importance and growth of the value of human capital services. The increase in human time value not only brings

Generally, human capital and professional artificial capital are mainly received through formal school education, so it can be expressed by the labor force or the average number of years of education in the whole society. Other important indicators include the penetration rate of higher education and the degree of technological innovation, such as the number of patent applications , Number of technological inventions, etc. The higher the higher education penetration rate and the innovation and invention rate, the higher the level of regional professional human capital stock. Specific indicators can be broken down into the average number of years of education of the labor force, the number of students in colleges and universities, the enrollment rate of higher education, and the proportion of engineers or scientists in the labor force. In view of the availability of current statistics, we will use the average years of education of the population over the age of 15 as a measure of professional human capital.

Entrepreneur human capital can be expressed by the number of entrepreneurs. The number of enterprises with full property rights and independent decision-making power and bearing the corresponding financial risks can usually be used as an indicator of the number of entrepreneurs and the human capital stock of entrepreneurs. Owen (1998) proposed the ratio of the number of employers to the number of employees to represent entrepreneurial capital, and Lu Chuanyi (2000) used the number of entrepreneurs to indicate the level of entrepreneurship in a region. The definitions of Entrepreneur Capital and Entrepernuership are similar to our definition of entrepreneurial human capital. Indicators such as the number of entrepreneurs or the ratio of employers to employees are easier to obtain in Western countries. In view of China's current situation, we believe that the human capital of entrepreneurs can be expressed in terms of the number of private enterprises and self-employed persons, or the proportion of their owners in the total population. Although there are large and small enterprises, the number of private business owners and individual heads of households who have full decision-making power and income power can reflect the human capital of entrepreneurs in a region that can be formed through various investments Stock level.