scholarly journals Constrained Efficiency in a Human Capital Model

2018 ◽  
Vol 10 (3) ◽  
pp. 179-214 ◽  
Author(s):  
Yena Park
Keyword(s):  
Human Capital ◽  
Market Economy ◽  
Incomplete Market ◽  
Constrained Efficiency ◽  
Income Sources ◽  
Pecuniary Externalities ◽  
The Poor ◽  
Human Capital Model ◽  
Additional Channel

This paper investigates whether capital and human capital are over-accumulated in an incomplete market economy. As in Dávila et al. (2012), whether capital is over-accumulated depends on how the pecuniary externalities affect insurance and redistribution. In a human capital economy, however, not only capital but also human capital generates externalities and an additional channel arises that has implications for the overaccumulation (under-accumulation) of capital (human capital). The income sources of the poor and the correlation between wealth and human capital are crucial for the implication of pecuniary externalities. Realistically calibrated models exhibit under-accumulation (overaccumulation) of capital (human capital). (JEL D52, D62, I26, J22, J24, J31)

Theodore W. Schultz. The Economics of Being Poor. Oxford: Blackwell. 1993. ix+340 pp.+ Index. Hardbound. £ 40.00.

1995 ◽  
Vol 34 (1) ◽  
pp. 84-85
Author(s):  
Mir Annice Mahmood
Keyword(s):  
Economic Policy ◽  
Human Capital ◽  
Policy Formulation ◽  
The Past ◽  
The Poor ◽  
Logical Sequence ◽  
Standards Of Living ◽  
Economic Journals ◽  
Material Conditions ◽  
Demand For Children

Improving the material conditions of the poor has been the main focus of economic policy formulation for the past fifty years or so. Thus, in this connection, a vast body of literature has been published which deals with such issues as identifying the poor and suggesting remedies to alleviate their lot. The book by Theodore W. Schultz deals specifically with the economics of the poor. The book is primarily a collection of articles the author wrote over a fortyyear period (1950-1990), and these have been published previously in a number of leading economic journals. The articles have been grouped under three headings: "Most People Are Poor"; "Investing in Skills and Knowledge"; and "Effects of Human Capital". The articles basically deal with the concept of human capital. There is a logical sequence to the articles that make up this book; the poor are identified and steps are then suggested to improve their standing. Issues such as women's economic emancipation and the demand for children are highlighted in the collection of articles dealing with these two subjects. By investing in themselves through education, the poor raise their level of skills, and thus their level of wages/salaries, allowing them to enjoy higher standards of living.

scholarly journals THE ROLE OF HUMAN CAPITAL IN THE MANAGEMENT OF INNOVATIVE DEVELOPMENT OF AN ENTERPRISE

2021 ◽  
Vol 8 ◽  
pp. 199-203
Author(s):  
Tamara A. Samoyluk ◽  
Anastasia S. Popova ◽  
Aelita V. Shaburova
Keyword(s):  
Human Capital ◽  
Human Resources ◽  
Market Economy ◽  
High Tech ◽  
Innovative Development ◽  
Highly Qualified ◽  
High Quality ◽  
Main Factor

In a market economy, the competitiveness of an enterprise is ensured by the introduction of innovations. In order to remain innovative, enterprises need high-quality human resources. Investments in human resources, as the main factor of innovative growth, determine the ability of employees to transform their existing knowledge, skills and abilities into high-tech products, highly qualified services.

Working effectively and living contentedly in a foreign country: what human capital do expatriates require and develop?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Reimara Valk
Keyword(s):  
Human Capital ◽  
Foreign Country ◽  
The Body ◽  
Future Research ◽  
Global Business ◽  
Line Managers ◽  
Content Type ◽  
Human Capital Model ◽  
Hr Managers ◽  
The Right

PurposeThe purpose of this paper is to explore the human capital (HC) expatriates require and develop during an international assignment (IA) to work effectively and live contentedly in a host country.Design/methodology/approachQualitative research entailing interviews with 78 expatriates and repatriates across the globe, investigating the competencies they developed and the HC they gained during their IAs.FindingsFive interrelated competence clusters were derived: cultural competence (CC); interpersonal competence; intrapersonal competence; global business competence; global leadership competence, each containing competencies crucial for expatriate success.Research limitations/implicationsThis study relied on self-reports by expatriates and repatriates. Future research should also include senior/line managers and chief human resource officers from a range of organizations across the world to gather their assessments on the competencies and HC of expatriates and repatriates.Practical implicationsLine/HR managers can use the designed “Expatriate/Repatriate Human Capital model” to assess an individual's overall readiness and capacity to perform effectively in a foreign country and culture and consecutively identify and select the right candidates to undertake IAs.Originality/valueThis paper contributes to the literature by presenting a HC model called the “Expatriate and Repatriate Human Capital Model; the body of competence”. The model identifies and defines the competencies/knowledge, skills, abilities and other characteristics (KSAOs) required for intercultural effectiveness and expatriate success and serves as a tool for the selection, training, development and performance evaluation of expatriates and repatriates, in order to aid the accomplishment of individual and organizational objectives.

The Debate about Guilds

2019 ◽  
pp. 1-35
Author(s):  
Sheilagh Ogilvie
Keyword(s):  
Human Capital ◽  
Capital Investment ◽  
Human Capital Investment ◽  
Economic Benefits ◽  
The Poor ◽  
History Of

This introductory chapter provides a brief history of guilds and an overview of the debate surrounding them. The effects of guilds on economy and society have always attracted controversy. Contemporaries held strong views about them, with guild members and their political allies extolling their virtues, while customers, employees, and competitors lamented their misdeeds. Modern scholars are also deeply divided on guilds. Some claim that guilds were so widespread and long-lived that they must have generated economic benefits. Other scholars take a darker view. Guilds, they hold, were in a position to extract benefits for their own members by acting as cartels, exploiting consumers; rationing access to human capital investment; stifling innovation; bribing governments for favours; harming outsiders such as women, Jews, and the poor; and redistributing resources to their members at the expense of the wider economy.

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