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Aims to provide an analytical framework investigating the accumulation of human capital in an OLG framework characterized by a continuous interplay between human capital distribution and individual choice of accumulation. This leads to a wide variety of dynamics. Generally, more equal economies tend to accumulate a higher human capital but other cases are possible. The accumulation is characterized by bimodality or multimodality in the human capital distribution and by an endogenous poverty trap.

The main purpose of this paper is to visualize the relation between government spending on basic education and the human capital accumulation process, observing the impacts of this spending on individual investments in higher education, and on economic growth.

The paper uses an overlapping‐generations model where the government tax the adult generation and spent it in basic education of the next generations.

It was demonstrated that the magnitude of the marginal effect of government spending in basic education on growth crucially depends on public budget constrains.

The paper explains why some countries with a lot of public investment in basic education growth at low rates. In that sense if a country has only a lot of public investment in basic education without investment in higher education it may growth at low rates because the taxation can cause distortions in the agents incentives to invest in higher education.

The purpose of this paper is to examine the long-run and short-run relationship between factor accumulation (i.e. physical capital and human capital) and economic growth by calculating the stocks of human capital and real physical capital.

The study uses endogenous growth model, where GDP per worker is the dependent variable and factor accumulation (real physical capital per worker and human capital) is the explanatory variable under the autoregressive distributive lag framework from 1973 to 2014 for Pakistan.

The results suggest that there is a long-run relationship between factor accumulation and GDP per worker in Pakistan. Findings of the study are consistent with the endogenous growth model suggesting that accumulation of human capital increases labor productivity, employment level and per capita income, and causes economic growth.

Developing countries like Pakistan should increase share of human capital for economic development. Government should invest in the education sector because investment in human capital has a large potential of productivity growth and welfare increase in developing countries.

This study challenges the notion of human capital and real physical capital stock used by different researchers. Considering human capital as a core factor of production, a series of human capital as average year of schooling is calculated by utilizing the perpetual inventory method.

This chapter argues that modern societies are changing in ways that disrupt the complementarity between social structure and character structure. One source of this divergence occurs because, on the one hand, there exists a “neoliberal” character structure that is oriented toward the accumulation of human capital and holds that such accumulation and hard work will allow one to achieve the “American Dream.” On the other hand, the deep embeddedness of this character structure may in fact deepen the possibility of structural crisis, as developments in automation and ongoing transformations of labor continuously shift the economic structure and many feel they are employed in meaningless “soul crushing” jobs. This diagnosis prompts the question: is the accumulation of human capital futile? In other words, can there exist an abundance of jobs that simultaneously pay enough to provide a middle-class lifestyle and be both socially respected by most members of society while also providing subjective meaning for the individual – without accruing high social costs? Through reflections upon my own biography growing up in East Tennessee, this chapter utilizes the framework of Planetary Sociology to encourage sociologists to rethink the category of “human capital” and recognize the divergence of social structure and character structure to be a serious problem with planetary implications. Only by critical examination of the sociohistoric context from a planetary perspective can these challenges be constructively evaluated and reckoned with.

Proposes an empirical analysis of regional convergence in Canada based on the growth model of Barro et al. In an open economy with perfect capital mobility, if domestic residents cannot borrow abroad with human capital as collateral, the dynamics of human capital accumulation is the driving force of per capita income growth. Empirical results indicate that, as predicted by the theoretical model, various indicators of the stock of human capital did converge at the same speed as per capita income during the 1951‐1996 period. A substantial part of the relative growth of per capita income indicators across Canadian provinces since the early 1950s could be explained by the convergence process of human capital indicators based on the percentage of the population, both sexes and males, who have at least a university degree. The estimates of the human capital share in national income based on those indicators are in the neighbourhood of 0.5, a number consistent with other measures of the implicit income share of human capital. The convergence speed of per capita income at the regional level might have been two to three times faster, if all persons had invested in education at the same rate as the young.

The purpose of the paper is twofold: to construct and analyze a novel endogenous growth model, in which unbounded growth is possible without the need to assume increasing returns to scale, and to use the model to estimate the long-run (or dynamic) costs of recessions.

In the proposed model, endogenous technology and human capital accumulation serve as the “twin engines of growth.” Simulations are used to derive growth rates consistent with long-term experience of developed countries, to understand better the differences between balanced growth and unbounded growth and to provide an estimate of the dynamic costs of capacity utilization shocks that produce business cycle-like behavior.

Conservative calculations show that the costs of the capacity shocks can be large – about 1.5 percent of the present value of output over a 100-period horizon. The theoretical model also suggests that differences in the technology production and human capital accumulation functions, possibly due to differing institutions, may help explain diverse growth experiences.

The paper, for first time, combines two strands of the economic growth theory – endogenous technology and endogenous human capital production – into a single model. It uses the implications of the model to argue, through simulations, that the benefits of counter-cyclical policies are potentially large in the long run.

Introduces the special issue “Human resource development: sectoral and invention‐level evidence of human capital accumulation”. Reviews the concepts and definitions of intellectual and human capital. Considers human capital from individual (employability, performance and career development) and organization (investment, ownership, skills and knowledge management) perspectives. Looks at each of the papers in the special issue, relating them to its theme. Highlights the implications for human resource development, both at individual and organizational levels.

This chapter is a radical critique of the neoclassical growth theory, justifying ways out of mainstream economics. It has three parts. The first one analyzes growth theories from the Classical representation to the endogenous growth models. The second part demonstrates that the “new growth theory” is not a break with Solow's formalization. To prove it, we build an original Solowian endogenous growth model. Then, this neoclassical macrodynamic framework is technically, deeply critized in a third part. We show that both exogenous and endogenous neoclassical models prove to be incapable to explain growth in the long period. We concentrate on the ambiguities surrounding the hypothesis of single agent, as well as on the role of the state, in particular when it is considered as a “planner” by the neoclassicals. Endogenous growth models do not correspond to macrodynamization of the Walrasian general equilibrium, nor have solid microeconomic bases. We advocate in favor of rehabilitating state's intervention in social areas and of reactivating Marxist theoretical reflections regarding social planning and class analysis in the current time of structural crisis of the capitalist world system.

This paper aims to examine the impact of caste and religious diversity on human capital outcome and external effect of ethnic capital on human capital accumulation process based on social fragmentation of West Bengal state which is mainly shaped under caste and religious lines.

A field survey was undertaken in which 440 respondents belonging to 440 households were interviewed in four municipalities of West Bengal – one each for most homogeneous and most heterogeneous along caste dimension and the equal number along religious line. For a cross sectional study during a one‐year period between January‐December 2006, this study considers stratified random sampling method (a mixture of both purposive and random sampling). In addition to construction of caste and a religion based fractionalization indexes, this study considers regression analyses of ordinary least square method in order to explore the stated objectives.

It suggests that more heterogeneous localities have lower outcome of per capita education after controlling the effect of per capita income. Moreover, the external effect of ethnic capital in heterogeneous localities has also lower outcome of human capital accumulation process.

The lower human capital accumulation in the heterogeneous localities along caste and religious dimensions might play an adverse effect on economic growth, crime, markets, technological breakthroughs and the arts and science. So, institutional measures by government and non‐government sources are needed to improve the stock of human capital, particularly in the heterogeneous localities influencing the positive impact on higher socio‐economic outcome in those localities.