Cumulative Subject Index
Free download. Book file PDF easily for everyone and every device. You can download and read online Cumulative Subject Index file PDF Book only if you are registered here. And also you can download or read online all Book PDF file that related with Cumulative Subject Index book. Happy reading Cumulative Subject Index Bookeveryone. Download file Free Book PDF Cumulative Subject Index at Complete PDF Library. This Book have some digital formats such us :paperbook, ebook, kindle, epub, fb2 and another formats. Here is The CompletePDF Book Library. It's free to register here to get Book file PDF Cumulative Subject Index Pocket Guide.
Contents:
The surplus labour in these countries is the human resource available in more abundance than the tangible capital resource. This human resource can be transformed into human capital with effective inputs of education, health and moral values.
Cumulative Subject Index
The transformation of raw human resource into highly productive human resource with these inputs is the process of human capital formation. The problem of scarcity of tangible capital in the labour surplus countries can be resolved by accelerating the rate of human capital formation with both private and public investment in education and health sectors of their national economies. The tangible financial capital is an effective instrument of promoting economic growth of the nation. The intangible human capital, on the other hand, is an instrument of promoting comprehensive development of the nation because human capital is directly related to human development, and when there is human development, the qualitative and quantitative progress of the nation is inevitable.
The United Nations publishes the Human Development Report [36] on human development in different nations with the objective of evaluating the rate of human capital formation in these nations. The life expectancy index reveals the standard of health of the population in the country; the education index reveals the educational standard and the literacy ratio of the population; and the income index reveals the standard of living of the population.
If all these indices have a rising trend over a long period of time, it is reflected in a rising trend in HDI. Human capital is measured by health, education and quality of standard of living. HDI is indicator of positive correlation between human capital formation and economic development. If HDI increases, there is a higher rate of human capital formation in response to a higher standard of education and health. Similarly, if HDI increases, per capita income of the nation also increases.
Implicitly, HDI reveals that the higher is human capital formation due to good levels of health and education, the higher is the per capita income of the nation. This process of human development is the strong foundation of a continuous process of economic development of the nation for a long period of time. This significance of the concept of human capital in generating long-term economic development of the nation cannot be neglected. It is expected that the macroeconomic policies of all the nations are focused towards promotion of human development and subsequently economic development.
Human capital is the backbone of human development and economic development in every nation. Mahroum suggested that at the macro-level, human capital management is about three key capacities: the capacity to develop talent, the capacity to deploy talent, and the capacity to draw talent from elsewhere. Collectively, these three capacities form the backbone of any country's human capital competitiveness.
Recent U. Human capital is an intangible asset , and it is not owned by the firm that employs it and is generally not fungible. Specifically, individuals arrive at 9am and leave at 5pm in the conventional office model taking most of their knowledge and relationships with them. Despite the lack of formal ownership, firms can and do gain from high levels of training, in part because it creates a corporate culture or vocabulary teams use to create cohesion.
In recent economic writings the concept of firm-specific human capital , which includes those social relationships, individual instincts, and instructional details that are of value within one firm but not in general , appears by way of explaining some labour mobility issues and such phenomena as golden handcuffs. Workers can be more valuable where they are simply for having acquired this knowledge, these skills and these instincts.
Accordingly, the firm gains for their unwillingness to leave and market talents elsewhere. In some way, the idea of "human capital" is similar to Karl Marx 's concept of labor power : he thought in capitalism workers sold their labor power in order to receive income wages and salaries. But long before Mincer or Becker wrote, Marx pointed to "two disagreeably frustrating facts" with theories that equate wages or salaries with the interest on human capital. An employer must be receiving a profit from his operations, so that workers must be producing what Marx under the labor theory of value perceived as surplus-value , i.
The term appears in Marx's article in the New-York Daily Tribune "The Emancipation Question," January 17 and 22, , although there the term is used to describe humans who act like a capital to the producers, rather than in the modern sense of "knowledge capital" endowed to or acquired by humans. Neo-Marxist economists such as Bowles have argued that education leads to higher wages not by increasing human capital, but rather by making workers more compliant and reliable in a corporate environment.
When human capital is assessed by activity based costing via time allocations it becomes possible to assess human capital risk. Human capital risks can be identified if HR processes in organizations are studied in detail.
PUBLICATION TITLE:
Human capital risk occurs when the organization operates below attainable operational excellence levels. For example, if a firm could reasonably reduce errors and rework the Process component of human capital from 10, hours per annum to 2, hours with attainable technology, the difference of 8, hours is human capital risk. When wage costs are applied to this difference the 8, hours it becomes possible to financially value human capital risk within an organizational perspective.
In corporate finance , human capital is one of the three primary components of intellectual capital which, in addition to tangible assets, comprise the entire value of a company. Human capital is the value that the employees of a business provide through the application of skills, know-how and expertise. Human capital is inherent in people and cannot be owned by an organization.
Therefore, human capital leaves an organization when people leave. Human capital also encompasses how effectively an organization uses its people resources as measured by creativity and innovation.
Some labor economists have criticized the Chicago-school theory, claiming that it tries to explain all differences in wages and salaries in terms of human capital. One of the leading alternatives, advanced by Michael Spence and Joseph Stiglitz , is "signaling theory".
Control of heat casualties at military training centers. Retrieved Companies can invest in human capital for example through education and training enabling improved levels of quality and production. With Metalsmarket. Occupational Exposure to Heat and Hot Environments tech.
According to signaling theory, education does not lead to increased human capital, but rather acts as a mechanism by which workers with superior innate abilities can signal those abilities to prospective employers and so gain above average wages. The concept of human capital can be infinitely elastic, including unmeasurable variables such as personal character or connections with insiders via family or fraternity.
This theory has had a significant share of study in the field proving that wages can be higher for employees on aspects other than human capital. Some variables that have been identified in the literature of the past few decades include, gender and nativity wage differentials, discrimination in the work place, and socioeconomic status. The prestige of a credential may be as important as the knowledge gained in determining the value of an education. This points to the existence of market imperfections such as non-competing groups and labor-market segmentation.
- Universal design: a manual of practical guidance for architects?
- Cumulative Subject Index, Volume 229.
- The Lunatic Express: Discovering the World . . . via Its Most Dangerous Buses, Boats, Trains, and Planes?
- Online Cumulative Subject Index To Volumes 195 198 And 200 227 1995.
In segmented labor markets, the "return on human capital" differs between comparably skilled labor-market groups or segments. An example of this is discrimination against minority or female employees. Following Becker, the human capital literature often distinguishes between "specific" and "general" human capital. Specific human capital refers to skills or knowledge that is useful only to a single employer or industry, whereas general human capital such as literacy is useful to all employers.
Economists view firm-specific human capital as risky, since firm closure or industry decline leads to skills that cannot be transferred the evidence on the quantitative importance of firm specific capital is unresolved. Human capital is central to debates about welfare , education , health care , and retirement.. In , "human capital" German : Humankapital was named the German Un-Word of the Year by a jury of linguistic scholars, who considered the term inappropriate and inhumane, as individuals would be degraded and their abilities classified according to economically relevant quantities.
The UN suggests "Human development denotes both the process of widening people's choices and improving their well-being". These theories are concerned with human beings as inputs to increasing production". From Wikipedia, the free encyclopedia. For regional delivery times, please check When will I receive my book?
Sorry, this product is currently out of stock. Flexible - Read on multiple operating systems and devices. Easily read eBooks on smart phones, computers, or any eBook readers, including Kindle. When you read an eBook on VitalSource Bookshelf, enjoy such features as: Access online or offline, on mobile or desktop devices Bookmarks, highlights and notes sync across all your devices Smart study tools such as note sharing and subscription, review mode, and Microsoft OneNote integration Search and navigate content across your entire Bookshelf library Interactive notebook and read-aloud functionality Look up additional information online by highlighting a word or phrase.
Institutional Subscription. Free Shipping Free global shipping No minimum order. Powered by. You are connected as. Connect with:.
- Evolutionary Computation in Data Mining?
- Over the Ocean (UK Edition)?
- Read Me a Rhyme in Spanish and English Leame Una Rima En Espanol E Ingles?
Use your name:. For, up to a point, consumption is investment in personal productive capacity. This is especially important in connection with children: to reduce unduly expenditure on their consumption may greatly lower their efficiency in after-life. Even for adults, after we have descended a certain distance along the scale of wealth, so that we are beyond the region of luxuries and "unnecessary" comforts, a check to personal consumption is also a check to investment.
The Cumulative Subject Index for Volumes ( and ( includes the contents of the volumes covered, the subject index, contributor index, and a. Purchase Cumulative Subject Index, Volume - 1st Edition. Print Book & E- Book. ISBN ,
The use of the term in the modern neoclassical economic literature dates back to Jacob Mincer 's article "Investment in Human Capital and Personal Income Distribution" in the Journal of Political Economy in The best-known application of the idea of "human capital" in economics is that of Mincer and Gary Becker of the "Chicago School" of economics. Becker's book entitled Human Capital , published in , became a standard reference for many years. In this view, human capital is similar to " physical means of production ", e.
Thus, human capital is a means of production , into which additional investment yields additional output.
Stanford Libraries
Human capital is substitutable, but not transferable like land, labor, or fixed capital. Some contemporary growth theories see human capital as an important economic growth factor. Adam Smith defined four types of fixed capital which is characterized as that which affords a revenue or profit without circulating or changing masters. The four types were:. Fourthly, of the acquired and useful abilities of all the inhabitants or members of the society. The acquisition of such talents, by the maintenance of the acquirer during his education, study, or apprenticeship, always costs a real expense, which is a capital fixed and realized, as it were, in his person.
Those talents, as they make a part of his fortune, so do they likewise that of the society to which he belongs. The improved dexterity of a workman may be considered in the same light as a machine or instrument of trade which facilitates and abridges labor, and which, though it costs a certain expense, repays that expense with a profit.
Therefore, Smith argued, the productive power of labor are both dependent on the division of labor:. The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgement with which it is any where directed, or applied, seem to have been the effects of the division of labour. Human capital is a collection of traits — all the knowledge, talents, skills, abilities, experience, intelligence, training, judgment, and wisdom possessed individually and collectively by individuals in a population.
These resources are the total capacity of the people that represents a form of wealth which can be directed to accomplish the goals of the nation or state or a portion thereof. The human capital is further distributed into three kinds; 1 Intellectual Capital 2 Social Capital 3 Emotional Capital. Many theories explicitly connect investment in human capital development to education, and the role of human capital in economic development, productivity growth, and innovation has frequently been cited as a justification for government subsidies for education and job skills training.
Michael Spence offers signaling theory as an alternative to human capital. It was assumed in early economic theories, reflecting the context — i. Just as land became recognized as natural capital and an asset in itself, human factors of production were raised from this simple mechanistic analysis to human capital.