Jan 19, 2020, 10:05 AM
In that branch of economics called Political Economy, Human capital consists of the size of the population, their age distribution, their health, their fitness, their intellect and character, and the sum of training in behavior, skills, and knowledge: every physical emotional and intellectual asset a person can have.
Human capital is beneficial not just for the individual in achieving his or her full potential but that the economy and the polity achieve their fullest potential together when there is more human capital. This is rather obvious, but it helps to tie the world together for people.
The government relies on education as the primary means by which to ensure that everyone rather than just those who can afford it, can achieve their potential, and as a consequence the society achieves its greatest potential.
The reason for mass education was just as much to prevent so many indolent useless criminal malcontents as it was to improve the lives of children. lol.
We don’t often add that success is more dependent on the average intelligence and personality trait distribution of the group than it is on the education because that would be improper in the context.