The Human Capital Investment Under Position Rationing

This paper is on the basis of insisting and inheritting to domestic andinternational experts and scholars and describing the theory of human capital,investigate the overall state of investment of human capital since the foundation of thecountry, analyse resident's personal human capital investment behavior andcharacteristics, combine university , junior college and special secondary schoolgraduate obtain employment difficultly, resident are make earnest efforts investing thereality of higher education in recent years, draw our country have resident humancapital conclusion of over-investment at present; Have investigated the " positionrationing " phenomena of the capital market of human on the basis of the rigidity ofthe salary and workforce's market segmentation theory further, human" creativesubstitution " and adverse selection effect of capital, probe into of our country residenthuman capital origin cause of formation of over-investment, and provide thecorresponding policy recommendations in the end. This paper is divided into threeparts mainly: First, the economic current situation makes us carry on the starting point andbasis of research. Since the foundation of the state, our country has devoted moreefforts to capital investment of human , education and investment absolute figure ofthe total amount in increasing year by year, but comparing to national economicdevelopment show insufficient still , the investment to education have the problems ofarea out-of- balance , speciality and trade structure unreasonable ; On the other hand,the phenomena such as difficulty for the graduates of university , junior college andspecial secondary school to obtain employment, resident go beyond financial limits tomake investment on human capital, " high consumption " in recruitment ,etc. all thisshow the sign that resident's human capital investment is excessive. Second, labor market as the intermediary that human capital function, haveimportant meanings for study investment of human capital. Under the currentsituations of rigidity of the salary and workforce's market segmentation, the labormarket stores in " position rationing ", its relative deficiency of positions in fact, it isthe result of market competition and micro enterprise or employer that carry onrational choose to a certain extent; Under the terms of position competitiveness rationof labor market, the competitor with certain human capital will bring the externaleffect to person substituted, the rational person substituted will make the defense ofadding to capital investment of human and react, thus produced the over-investmentof the human capital. iiiThird, the creative substitution assumes that personal human capital investmentis all carried on under the same investment conditions and background , this oneassumes that does not totally accord with reality . The higher education of our countryis stored in different region chances , general education slope and excessive tourbanite, different children , family of income , have different phenomena ofdistributing in the university, prove that has already sloped to the people with highincome , high social status person and urbanite in the higher education evolution ofour country, the fair mechanism of higher education is twisted by a certain degree, thedirect consequence of this kind of distortion is, is that choose mechanism deviate from" ability , " the standard , has lost the function of " screening the signal " of educationto a certain extent, namely the " adverse selection " effect in human capital investment.The relaxation of education choose mechanism cause the nonconformity of ability anddiploma , make this kind of diploma devalue seriously, " just good that the mediocreperson expels " to appear; Holder of an offer have the diploma winner now has tocompete high diploma development in opposite directions, cause the diploma to investand unrealistically comp...