For a company or organization, “Human Capital” is a measure of the skills, education, capacity and attributes of labor which influence their productive capacity and earning potential.
According to the OECD, human capital is defined as:
“the knowledge, skills, competencies and other attributes embodied in individuals or groups of individuals acquired during their life and used to produce goods, services or ideas in market circumstances”.
Human capital of the economy – The aggregate human capital of an economy, which will be determined by national educational standards
Gary Becker , a renowned behavioral economist defined “Human Capital” (1964) as “determined by education, training, medical treatment, and is effectively a means of production. Increased human capital explains the differential of income for graduates. Human capital is also important for influencing rates of economic growth.”
Human Capital from Individual's Perspective :
But as for individual, human capital is the economic value of our ability and skills to earn an incomeand ......