On the Development of Human Capital

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Ashiq Hussain Itoo

Think of the one factor that has made great difference in the development of mankind; perhaps it is the potential to store and transmit the stock of knowledge which traditionally has been done taking resources to story- telling, songs and elaborate lectures. As t time advanced, man found that enhancement of skills and well-fashioned training is a pre-requisite to do things efficiently. We know that calculating profit in any economic pursuit is more in the educated lot of labourers.
Education is sought not only for higher earnings: it also guarantees heights of valued benefits: it offers higher social standing in the social hierarchy; it enables one to estimate a productive selection of choice; it delivers a lot who can be adaptive to changes across the economic, social and political horizons. Moreover, the educated lot can be healthier.
What is human capital?
As we know, a country can change physical resources into a capital like industries, roads and buildings, space exploratory assets, armoury and so on. Similarly, it can produce a human capital like doctors, administrators, engineers, teachers, professors and so on from its human resource.
Investment in education is a great source of human capital as it gives wings to populace to explore the unexplored horizons and enjoy the journey not only guided by a scientific tempers and mathematical calculations but also philosophical back -ups of eminence grises like Immanuel Kant, Allama Iqbal and others.
Similarly, investment on health is also a driving force for trajectory of growth and development. A sick person can’t be as productive as healthy person. Apart from curative and preventive medicine , social medicine needs to be prioritized and publicized. Social medicine means disseminating health awareness among the populace to create a “demographic dividend” which means a working population. This is how a sound health can mount pinnacles of development and a sound mind in the long run.
The provision of migration into foreign territory and permission of admission into the country creates a platform to exchange the services of specialists at cheapest prices. it also provides for handsome salaried jobs in the international market which overall produce a chunk of foreign exchange reserves.
The need of the hour is to inculcate diverse skills in population and the youth to meet the consumption and savings needs and lessen the dependence on government jobs which will lead to multiple benefits.

—The author can be reached at: ashu4u786@gmail.com