Importance of Human Capital in Economicdevelopment

1842 words 8 pages
HUMAN CAPITAL AND IT’S ROLE IN
ECONOMIC DEVELOPMENT:

1. Introduction:
The modern economists are of the view that natural resources i...e forest minerals, climate, water power etc. play in important role in the economic development of an country. A country which has abundant natural resources is in position to development more rapidly than a country which is deficient in such resources. They here how ere emphasize that the presence of abundant resources is not a sufficient condition of economic growth. Physical factures they say are passive factors of economic growth. They are to be combined with human resources of a country who are active facture of economic development.
Human resources of a country are the size of population rate of
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All these deficiencies affect the health of the people reduce their life expectancy. (v) No facilities of on the job training:
On the job training or in service training is very essential for improving or acquiring of new skills to the persons employed in various importance is given on the job training for the employees. The result is that the efficiency and knowledge of the workers remains technicians etc. is therefore of utmost importance for the efficient use of human resources. (vi) Study programme for adults: Study programme for adults can also be introduced for improving literacy rate. Programme for adults was introduced in many under developed countries of the world including Pakistan for providing basic education. increasing skills farmers and small industrialists. The scheme has miserably failed as no interest was shown by the adults in getting such training. (vii) Half hearted measures for promotion of employment:
In most of the world the ratio of unemployed or under employed persons is very large. For increasing employment and reducing under employment proper investment in human capital is required which is visibly lacking in LDC's. The govt. of Pakistan has taken a number of steps for increasing employment opportunities in the country such as establishment of SME Bank for the promotion of self employment at the grass root level, encouraging domestic and

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