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Suppose you are a policy advisor who is responsible for developing a national level long term...

Suppose you are a policy advisor who is responsible for developing a national level long term public investment policy. Supposed you are asked to discuss the effectiveness of investing on the efficiency of the current production technology and investing on the public education. Based on the model of human capital accumulation in Chapter 8, discuss the key differences of these investment possibilities and explain which investment policy you would recommend and why. Discuss briefly what additional aspects of the real world you would consider when making such a recommendation which may be missing in the model?

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The best investment policy that could be proposed for expanding the efficiency is putting resources into building the human capital. This should be possible by putting resources into instruction, and wellbeing framework. Just physical investment rather than human capital would not assist with supporting the development of any economy. With human capital, productivity of factor and efficiency of information increments massively. It is conceivable that by utilizing the human capital, the unavoidable losses of information can be redirected to expanding returns or steady re-visitation of information.

Thus, I will suggest more investment on building human capital than the investment in physical capital.

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