What is the relationship between human capital and human development?
The relationship between human capital and human development is the fact that any investment in human capital results in human development. In other words, human capital is a facilitator of human development. Human capital refers to all these factors able to lead to improvement in experience, knowledge, health and morality of man. Such human capital can be stored by both informal and formal means of training and education of people, as well as through various health care means aimed at maintaining good health.
Human capital and human development are connected in a way that increases human capital allows individuals to create a better life. For example, someone who is trained as an engineer has been stored with a human capital that can be used to make a living. Using the skills acquired and chased in the process of improving human capital, this person creates conditions that will further facilitate developments through the ability to make money andLiving an independent and comfortable life. People who take further training at work in their investment in human capital will also be able to increase their gainful potentials. Although these benefits are on an individual basis, human capital and human development are also more generally connected.
Someone who has the amount of human capital can use this repertoire of knowledge not only for their own human development, but also for the development of community and even the world in general. Examples are highly trained scientists who use their knowledge, experience and training to develop vaccines and drugs for various forms of diseases. This is a direct link between human capital and human development, as such a drug can help prevent and treat various types of diseases.
In the same sense, people with intensive investments in human capital can also take advantage of knowledge in the development of community in fields such as economics, engineering, inchanges and law. All of these companies help move it forward and are the result of human capital entry in individuals. The instillation of good morality in individuals also shows the connection between human capital and human development, as such an investment helps to reduce criminal tendencies and prevent society's degradation.