Question
Bring out the differences between human capital and human development.
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Human Capital
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Human Development
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Human capital considers education and health as means to increase productivity.
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Human development is based on the idea that education and health are integral part of human well being.
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It treats human being as a means to an end; the end being the increase in productivity.
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Human development treats human beings as an end in themselves.
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Human capital considers any investment in health and education is unproductive if it does not enhance output of goods and services.
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Human development stress on increasing human welfare by investing in education and health even if it does not results in higher output. It says that every individual has right to education and basic health facilities.
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