human capital

human capital
The skills, general or specific, acquired by an individual in the course of training and work experience. The concept was introduced by Gary Becker in the 1960s in order to point out that wages reflect in part a return on human capital. This theory has been used to explain large variations in wages for apparently similar jobs and why even in a recession a firm may retain its workers on relatively high wages, in spite of involuntary unemployment See also intellectual capital

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  • Human capital — refers to the stock of skills and knowledge embodied in the ability to perform labor so as to produce economic value. Many early economic theories refer to it simply as labor, one of three factors of production, and consider it to be a fungible… …   Wikipedia

  • human capital — noun The knowledge and skill of employees regarded as a business asset • • • Main Entry: ↑human …   Useful english dictionary

  • human capital — theory …   Dictionary of sociology

  • Human capital — The unique capabilities and expertise of individuals. The New York Times Financial Glossary * * * human capital human capital ➔ capital * * * human capital UK US noun [U] ► ECONOMICS, HR employees, and all of the knowledge, skills, experience,… …   Financial and business terms

  • human capital — The unique capabilities and expertise of individuals. Bloomberg Financial Dictionary * * * human capital human capital ➔ capital * * * human capital UK US noun [U] ► ECONOMICS, HR employees, and all of the knowledge, skills, experience, etc. that …   Financial and business terms

  • Human Capital — A measure of the economic value of an employee s skill set. This measure builds on the basic production input of labor measure where all labor is thought to be equal. The concept of human capital recognizes that not all labor is equal and that… …   Investment dictionary

  • human capital — The skills, general or specific, acquired by an individual in the course of training and work experience. The concept was introduced in the 1960s in order to point out that wages reflect in part a return on human capital. This theory has been… …   Accounting dictionary

  • human capital theory — Human capital theory …   Dictionary of sociology

  • human-capital theory — Human capital theory …   Dictionary of sociology

  • Human-capital theory — This is a moden extension of Adam Smith s explanation of wage differentials by the so called net (dis)advantages between different employments. The costs of learning the job are a very important component of net advantage and have led economists… …   Dictionary of sociology

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