Human Capital for Sustainable Growth and Development (2012/09)
Human capital is a multifaceted concept, the components of which change with the development of society. Human capital includes people’s level of education, the quality of higher education and the level of development of science and innovation.
As international economic competition intensifies, the comparative advantages of countries are determined more by their technical innovations and research and development than by their natural resources and cheap labour. This shift is imposing new demands on the process of shaping human capital.
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