The Influence Of Different Education System Of Human Capital Accumulation, Economic Growth Is Under The Perspective Of Analysis

There are tight relationship among the accumulation of human capital, inequality of income and economic growth. For example it is commonly accepted that the accumulation of human capital is one of the main resources for economic growth; intensified income inequality will definitely impede the economy from growing in a fast and sustainable method; and also the income inequality mainly comes from different methods of human capital accumulation. Different methods of human capital accumulation here we mainly refer to government’s different educational polices. In order to study the relationship, we build a model that only takes clients’ education choice into consideration. We mainly assess3different educational polices:private, public and mix educational polices. We find that although under each circumstance the income inequality will disappear when the economy reaches the balanced growth path, the stability is very different. Off the balanced growth path, however, when there is little inequality in society the private educational policy will lead to higher growth rate, and when the inequality is high the public educational policy will yield higher economic growth rate. When analyzing mixed educational policy, we find that it will lead the economy to the same result as under public situation in a faster way, so in this point of view mixed educational policy is more efficient than public educational policy. Besides we also talk about how to find the optimal tax rate under mixed educational policy. What we find is that the group with relatively low level of human capital accumulation will have less political power. So the tax rate will be lower than that of public educational policy.