Rising Population, Impact of Human Capital on Economic Development: An Issue to be Focused Upon
Human resources play a vital role in the economic development of any country. Human resources mean population of a country, its efficiency, education, productivity and farsightedness. In fact human resource means Human Capital. Management of human resource implies that population of the country be given proper education, health and housing facilities, clothing and employment opportunities. Efficient management of human resources proves a blessing for the country. Economic development of a country needs two kinds of resources. They both influence each other. Of these first relates to human resources and the second to natural resources which happen to be lifeless and passive. Human resources are active. Proper exploitation of natural resources is possible only by making use of efficiency of human resources. The emphasis of the article is on “The central problem of the modern era would be how to solve the problem of rising population of the world.” Human Capital are both means and ends of economic activities.
Keywords - Human Resource, Economic Development, Economic Growth, Gross Domestic Product, Economic Value