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Asked by Lavanya Last Modified
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Harpreet Kaur
IELTS, Interviewer, Spoken English trainer with 2 years of experience in IELTS industry.
The basis differences between human capital and human development are –
•Human capital considers that the productivity can be increased by education and health whereas human development believes that the education can be beneficial only when the human beings are able to derive maximum benefit out of what they have learnt.
•Human capital is a narrow concept which treats human being as a means to achieve higher productivity whereas human development is a broader concept which considers human beings as an end in themselves. It believes that human welfare can be achieved through investment in education and health..
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Differences between human capital and human development are:
Human Capital Human Development
Human capital - (i) Human capital treats education and health as a means to increase capital.
Human development - (i) Human development consider integral to human well-being.
Human capital - (ii) Human capital treats humans as a means to end.
Human development - (ii) Human development treats humans as an end to themselves.
Human capital - (iii) It states education and health as a means to increase labor productivity.
Human development - (iii) It states that education and health are integral to human well-being because only when people have the ability to read and write, do they have the ability to make a healthy life.
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