How does investment in human capital contribute to growth?

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Neha

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Human capital is one of the most important factor which contributes in economic development of the country . Even if we have ample amount of resources but we do not have the required human capital its is a waste . As knowledge, skill, technical know how of the employees play a very significant role...
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Human capital is one of the most important factor which contributes in economic development of the country . Even if we have ample amount of resources but we do not have the required human capital its is a waste . As knowledge, skill, technical know how of the employees play a very significant role in leading the economy towards growth and development. Many economists like Robert Lucas , AK Sen believe that investment in human capital is of utmost importance . read less
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Investment in human capital is believed to be positively related to economic growth. It leads to efficient utilisation of the material inputs and capital. With increase in productivity, output increases at an increasing rate and hence economic growth accelerates
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