Thinking like an economist: The basic vocabulary of the field
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Thinking like an economist: The basic vocabulary of the field

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  • College
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College education increases ones human capital in many ways. First, education is one way of assuring of individual employment and earning. Education, skills and training are factors of human capital, but education should come first. Why, because education facilitates learning of the new skills and training for work that ends up with productivity and efficiency in using limited resources of the company. Vice Chairman Jim Saxton of the US Congress Joint Economic Committee reported that the amount of education of a person determines his earning capacity and that the more he learns, the more he absorbs new information, technology and new skills easily. This is particularly true since I believe that when the human capital is developed, his productivity level is improved, he turns out a good

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