Question

In advanced countries, will the rise in human capital contribute more to growth in the 21st century than in the last one?

Answer 1

Ans. Yes, ofcourse, though the countries are advanced but they all need economic growth and economic growth will be achieved when there is rise in human capital. Human capital refers to the skills, knowledge and experience that an indovidual has. When an individual has more skills with the increasing time, they are more likely to contribute for the economy of that particular countries. Let's take an example : A person X has acquired a certification in automation and presently there is a huge scope of automation as many companies bring it into the work. As there are very less persons with the same knowlege, person X is contributing in the growth of the economy because automation will bring rise in economy as compared to the previous century because it has evolved in this century only .