Human Capital

Capital is an asset or advantage from which an economic return can be earned. Human capital is one of the various forms of capital. Human capital comprises an individual’s knowledge and skills and can be broken down into general and specific forms. General forms of human capital, as the name implies, refers to knowledge and skills that can apply to a variety of settings and situations. Examples include a person’s general mental ability and skills such as communicating, motivating, and information processing that apply across settings and situations. Unlike general forms of human capital, specific forms of human capital tend to be of value only to targeted sectors or organizations. For this reason, specific human capital is often further refined to reflect firm-specific and industry-specific ...