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human capital
(redirected from Human Capital Theory)

   Also found in: Financial, Wikipedia 0.06 sec.

human capital

Concept introduced by US economist Gary Becker during the 1960s to describe the skills and training present in the workforce of a company, or the population at large. Human capital can be increased by investment in training and education.



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Sharf's (2006) human capital theory is a theory that career development professionals could consider when working with Black/African American students.
Human capital theory has a focus on the labour needs of nation-states and the 'human capital theory of education'--a concept emerging from neo--classical economic theory which earned Garry Becket (1957) a Nobel Prize and has dominated educational programs since the 1960s in New Zealand as well as Australia and Canada (Marginson, 1993).
On the supply side, classical human capital theory states that the low level or low quality of education received by African Americans explains why African Americans make less money than Caucasians (Becker 1993).
 
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