5 forces of human capital
In literature, a lot of research can be found about the underlying forces which drive the economic world around us, like the economic cycle [1] or the business cycle of an enterprise. The driving forces of the business cycle are summarized by Porter's five forces analysis while the economic cycle has been explained by multiple theories.
The economic wellbeing of e.g. a country is also driven and influenced by the human capital of the people working in that environment. The concept of human capital is well established and accepted in literature and various driving forces have been identified.
Below, we have listed the five most important aspects in the human capital of a person which affect the general development of a person the most:
1. Socio-economic environment[2]
2. Education[3]
3. Emotional stability[4]
4. Financial stability[5]
5. Goals in life[6]
References
- ↑ Barras Richard, "Journal of Property Research : Property and the economic cycle: Building cycles revisited," April 1993(Vol. 11, Issue. 3), pp. 183-197.
- ↑ Titus J Galama et al, "The Economic Journal: Theory of Socio-economic Disparities in Health over the Life Cycle," January 2019(Vol. 129, Issue. 617), pp. 338-374.
- ↑ Blundell Richard et al, "The Journal of Applied Public Economics: Human Capital Investment: The Returns from Education and Training to the Individual, the Firm and the Economy," February 2005(Vol. 20, Issue. 1), pp. 1-23.
- ↑ Wright Patrick et al, "Human Resource Management Journal : Exploring human capital: putting ‘human’ back into strategic human resource management," February 2011(Vol. 20, Issue. 2)
- ↑ Berk Jonathan et al, "The Journal of Finance: Human Capital, Bankruptcy, and Capital Structure," May 2010(Vol. 65, Issue. 3), pp. 891-926.
- ↑ Costanza Robert et al, "Ecological Economics: Quality of life: An approach integrating opportunities, human needs, and subjective well-being," March 2007(Vol. 66, Issue. 2-3), pp. 267-276.
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