According to the human-capital view, education: alters work ethic, has no effect on lifetime earnings, enhances productivity and is an indicator of natural ability.
What does education's human capital theory entail?
According to the human capital hypothesis, education boosts workers' efficiency and productivity by raising their degree of cognitive capacity. economic productivity is a function of human potential, which is a result of both intrinsic skills and investment in people.
The human capital perspective contends that initiatives that raise everyone's level of education will result in higher salaries across the board. The signalling argument contends that because education does not boost production, an increase in educational attainment will not have an impact on wages.
According to the human capital idea, people can become more productive by getting more education and training in specific talents. The idea is criticized for being unreliable, oversimplified, and confusing labor with capital.
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