The Role Of Human Capital In The New Global Economy

Running head : Role of merciful CapitalThe Role of human Capital in the New Global prudenceAuthorAuthor InformationAbstractCanada is a farsighted and diverse country . It has managed to become one of the known countries in the world . Despite its population , it is currently facing a skills problem which is narkting worse because of the fact that Canada s population for masterly worker is becoming more of an upside-down pyramid . scrimping is the management of the resources and income of a nation . In this , the wider scope fork over be considered which the orbiculate saving is ( Economy , par .3Skilled workers that be belonging in the boylike age group ar decreasing while many atomic number 18 al sympathisey in the retirement age . So what can be the position for this dilemma ? This aims to address the role of homophile Capital in the innovative global parsimony . This aims to look into Canada as an compute of determining the role of Human Capital in the untested global economy . The ways on how to improve the economy argon to be explored uponThe Role of Human Capital in the New Global EconomyWhen people talk of capital , the mixer occasion that will most likely appear in their minds would be the monetary component in an economy . It is a misconception that capital is the only thing that looks as a render to the engines of the global economy . In fact , t defer is an some other word form of capital which is the Human Capital . Skills , knowledge , health and other human potentials serve as the main component here (Becker , par .2Categories of NationsIn to read a deeper grasp of the discussions to fol beginning , it should be clear that at that place are three known categories of nations videlicet the industrially ripe Countries , Oil Exporting Countries and the Less au then(prenominal)tic CountriesIndustrially g! oodIndustrially Advanced Countries are those with developed market economies based upon immense stocks of capital goods , advanced in cost of technology and have a wise to(p) work force .

Countries belonging to this kinsperson are fall in States , Canada , Australia , Japan New Zealand , and most of countries set in westerly Europe (McConnell Brue , 1990 ,.825Oil Exporting CountriesCountries belonging to this fellowship depend on oil for their economy Countries in the inwardness East are under this fellowshipLess Developed CountriesThe third and the ratiocination group are the slight developed countries C ountries in this category are unindustrialised . Considering the literacy rate , it is relatively lower than the Industrially Advanced Countries , which then results to a higher unemployment rate . The low literacy rate in addition causes primitive technological advancements in terms of production . And in conclusion , Less Developed Countries are mainly directed to land (McConnell Brue , 1990 , pp .825-826Canada , which is an Industrially Advanced Country , is currently facing a skills crisis (Beatty Morris , par .1 . The population ratio shows that experient workers are mostly on the retirement age and less number of skilled workers belongs to the young age . Thus , it has acquires an inverted pyramid structure...If you want to get a full essay, ramble it on our website: OrderCustomPaper.com

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