Human and Intellectual Capital in Organization, Human and Social Capital
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Intellectual
Capital in
Organization
Human and
History of the theory
• Theodore W.Schultz – while analysing the
situation of underdeveloped countries he
found that material situation of poor
people can be changed not because of
having land or technical equipment but
from their knowledge.
Human capital – skills, characteristics and
motivation of people which can be
enriched by investments
History of the theory
• Gary S.Becker – Nobel Prize 1992,
human capital is a composition of
abilities,values as well as learned
knowledge and skills of a person;
this capital cannot be separated from
a person
• Economic approach to human
behaviour; taking decisions people
take into account maximum utility
Human Capital and
Education
Raise of income of college graduates
in comparison with high school
graduates:
•early 1990s - 45%
•1960s - 60%
•1970s - 50%
•1980s - 65%
•1990s - 75%
Education as investment
Costs:
• Tuition and fees
Benefits:
• Above average
earnings
• Opportunity cost-
cost of not
working during
studies (high
school graduate
working full time)
• Better jobs
• Better health
• Better family life
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