Numerous studies have emphasized on the importance of investment in human capital where the merit goes to the Nobel Laureates of economy like; Gary Becker, Theodore Schultz and James Heckman.
The paper aims to present some of the results of studies of these Nobel Laureates, which focus on the necessity of investing in human capital especially investment in education even in very early childhood, then the investment in the training of workers for the establishment of labor productivity and investment in improving the quality and health of the population.
From the results of their studies we will get the message to policy makers that investing in human capital should be a priority of government policies especially in countries faced with the problem of unemployment. Unemployment is closely associated with education level, the higher is the education level the lower will be the unemployment rate.
The Importance of Investment in Human Capital: Becker, Schultz and Heckman (662.8 KiB, 458 hits)