Human capital and economic growth - United Kingdom, 1951-1961

Abstract

In recent years, economists have been turning their exploratory energies in increasing measure towards investment in human-beings, such as formal education, post-school training, health, migration and information. Of these, education and training hav: received most attention. Rates of return on such investment have been estimated, and its contribution to the economic growth of various countries assessed, thus accounting for part of the hitherto 'unexplained residual'.