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Investment in Human Capital: A Theoretical Analysis
Posted on 19 December 2016 by Azlinda Abd Rahim (Library Manager)
Abstract

Some activities primarily affect future well-being, while others have their main impact in the present. Dining is an example of the latter, while purchase of a car exemplifies the former. Both earnings and consumption can be affected: on-the-job training primarily affects earnings, a new sail boat primarily affects consumption, and a college education is said to affect both. The effect may operate either through physical resources, such as sail boat, or through human resources, such as a college education. This paper is concerned with activities that influence future real income through the imbedding of resources in people.


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