Lack of human capital cause wages to be high.
Human capital is a idea utilized by social scientists to designate personal attributes considered beneficial inside the production technique. It encompasses worker understanding, talents, knowledge, precise fitness, and education. Human capital has a significant effect on person earnings. you may separate human capital into 3 sorts: understanding capital, social capital, and emotional capital.
broadly speakme, economists have proposed 3 methods to building human capital measures—the indicator technique, the cost method, and the earnings method. studies using the indicator approach have used unmarried measures inclusive of common years of training or indexes of a couple of measures.
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