Adam Smith included in his definition of capital "the acquired and useful abilities of all the inhabitants or members of the society". The first use of the term "human capital" may be by Irving Fisher. An early discussion with the phrase

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Human capital in a broad sense is a collection of activities – all the knowledge, skills, abilities, experience, intelligence, training and competences possessed individually and collectively by individuals in a population. These resources are the total capacity of the

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World Economic Forum Global Human Capital Index
Since 2012 the World Economic Forumhas annually published its

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The concept of human capital has relatively more importance in labour-surplus countries. These countries are naturally endowed with more of labour due to high birth rate under the

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Human capital is an intangible asset, and it is not owned by the firm that employs it and is generally not fungible. Specifically, individuals arrive at 9am and leave at 5pm (in the conventional office

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In some way, the idea of "human capital" is similar to Karl Marx's concept of labor power: he thought in capitalismworkers sold their labor power in

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Human capital is distinctly different from the tangible monetary capital due to the extraordinary characteristic of human capital to grow cumulatively over a long period of time. The growth

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