Human Capital Theory Summary
Summary
This week’s reading examined how the theory of human capital provided a conceptual framework for various interventions that invested in individuals and contributed to development. The author stated how human capital theory provided range of programs and policies, which promoted the acquisition of skills and knowledge and improve people’s health and nutrition, improve their standard of living and facilitate their participation in the economy. The reading also illustrated how nutritional and health statuses are now recognized as a requirement for social and economic development. This inventory will focus primarily on examining the acquisition of skills and knowledge through education and also briefly analyze human capital programs such …show more content…
Firstly, a large number of early childhood policies and programs have been introduced throughout the world to promote human capital (Midgley, p. 90). The reading illustrated how childcare is viewed as a necessity among many Western families and how it is increasing in the global South. Additionally, the reading stated how ‘there is substantial evidence to show that child care contributed to human capital and there are positive long term educational and career outcomes resulting from early childhood investments’ (Midgley, p. 91). Therefore, it is apparent that early childhood policies have positive effect on society because it promotes economic success by allowing parents to participate in the workforce, supplements family care and also promotes human capital among young children.
Secondly, formal education was stated as an effective way of promoting human capital and how this occurs on three levels such as primary school, secondary school, and college/university. The reading described how ‘formal education has a major impact on social status, health, nutrition and fertility, providing many women with greater choice over decisions concerning child bearing (Midgley, p. 95). Therefore, the reading illustrated how formal education is recognized as a key development strategy and contributes significantly to economic and social development throughout the
This week’s reading examined how the theory of human capital provided a conceptual framework for various interventions that invested in individuals and contributed to development. The author stated how human capital theory provided range of programs and policies, which promoted the acquisition of skills and knowledge and improve people’s health and nutrition, improve their standard of living and facilitate their participation in the economy. The reading also illustrated how nutritional and health statuses are now recognized as a requirement for social and economic development. This inventory will focus primarily on examining the acquisition of skills and knowledge through education and also briefly analyze human capital programs such …show more content…
Firstly, a large number of early childhood policies and programs have been introduced throughout the world to promote human capital (Midgley, p. 90). The reading illustrated how childcare is viewed as a necessity among many Western families and how it is increasing in the global South. Additionally, the reading stated how ‘there is substantial evidence to show that child care contributed to human capital and there are positive long term educational and career outcomes resulting from early childhood investments’ (Midgley, p. 91). Therefore, it is apparent that early childhood policies have positive effect on society because it promotes economic success by allowing parents to participate in the workforce, supplements family care and also promotes human capital among young children.
Secondly, formal education was stated as an effective way of promoting human capital and how this occurs on three levels such as primary school, secondary school, and college/university. The reading described how ‘formal education has a major impact on social status, health, nutrition and fertility, providing many women with greater choice over decisions concerning child bearing (Midgley, p. 95). Therefore, the reading illustrated how formal education is recognized as a key development strategy and contributes significantly to economic and social development throughout the