How is human development a broader term as compared to human capital?
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Human capital is a narrow concept which treats human beings as a means to achieve an end which is higher productivity, failing which the investment is not considered to be productive.
Human development is a broader concept which considers human beings as ends in themselves. Human welfare can be achieved through investments in education and health. It considers welfare a right of every individual irrespective of their contribution to labour productivity. Every individual has right to be literate and lead a healthy life.
Human development is a broader concept which considers human beings as ends in themselves. Human welfare can be achieved through investments in education and health. It considers welfare a right of every individual irrespective of their contribution to labour productivity. Every individual has right to be literate and lead a healthy life.
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