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Human Capital

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PPGPortal > Home > Concept Dictionary > F, G, H > Human Capital
 

Human Capital 

Human capital is an intangible collective resources possessed by individuals and groups within a given population including things such as the knowledge, talents, skills, abilities, experience, intelligence, training, judgment, and wisdom possessed individually and collectively.

(Encyclopaedia Britannica Online 2015)

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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 the quality of employees can be improved by investing in them. The education, experience and abilities of an employee have an economic value for employers and for the economy as a whole.

(Investopedia 2015)

References

Encyclopaedia Britannica Online. "Human Capital." Accessed June 27, 2015, http://www.britannica.com/topic/human-capital

Investopedia. "Human Capital." Accessed June 27, 2015, http://www.investopedia.com/terms/h/humancapital.asp

 

Page Created by: James Ban on 6 July 2015.

     

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