Analysis Of The Economics Of Human Capital

Both knowledge-based economy and human capital are now hot points in economics. The former is a new concept based on many new situations that has been manifested in developed western countries since 1990s, while as for the latter, the notion itself has been formally put up in 1960s, though knowledge-based economy posed as a kind of background gives the studies of human capital a new round of fervency. The dissertation tries to establish connection between human capital and economic growth, especially the connection between human capital and economic development stage based on which the relationship between the concept of human capital and the knowledge-based economy which is considered the economic stage after industry economy is stressed. Unlike the treatment of human capital in western mainstream literature, the human capital is not been seen as a thing physically existed but as a historic form of capital at the first instance. After the relationship between human capital and economic development stage is clarified, the micro-forming mechanism of human capital is provided, and China's human capital development strategy is studied positively and theoretically.The first chapter outlines the economic background which makes the knowledge-based economy and human capital both become focus of economics, and then reviews the related studies on human capital from both abroad and domestic aspect respectively, and explains the methodology which dominates the study. The whole first chapter lays the keynote for our study hereinafter. The first keynote is always to relate the concept of human capital to certain economic development stage, the second is to adhere to the historic, materialistic and dialectical methodology. The following chapter is to concretely explain how the economic development stage related to human capital is different from the former economic development stage, and provide different cycling routes with respect to the industry economy and the knowledge-based economy. In addition, this chapter analyzes different forms of technological progress in different economic development stages, and educes the conclusion that human capital is a kind of advanced capital. The third chapter is to clarify the concept of human capital. By differentiating the concept between broad sense and narrow sense as well as human capital of concrete sense and of being category of the economics, in-depth analysis is given, and its definition is presented from two aspects, one of which is from the wholism aspect, the other from individualism aspect. Chapter four is the key part of the dissertation where economic growth model is constructed in review of different economic development stages. The model in the second section of this chapter is the basic one in that technological progress is only introduced exogenously. By introducing human quantity change and human capital endogenously respectively, the basic model is extended in the third section, from the first extension, a poly-equilibrium in respect of the relationship between economic growth and human quantity is deduced, while the second extension provides some more concrete conclusions about the characteristics of the economic growth pattern based on human capital such as market activities automatically being harmony with non-market activities and realization of rational substitution of physical capital with human capital as well as the significance of family being reinforced. In the fourth section, we provide a comparison between our model and the most important growth models in western mainstream economic theory, based on which potential advantages of our model are also stated. Chapter five analyzes the micro-building-up regime of human capital. Chapter six explores the relationship between certain capital forms and the ownership of firm, and studies the effect of human capital on the on-going management revolution. At last, the seventh chapter provides a positive and theoretic analysis of China's human capital and economic growth. The positive analysis focuses on which e...