The premise of human capital lies in the hypotheses of the Theodore Schultz, a market analyst from the University of Chicago who was granted the Nobel Prize for Economics in 1979 Schultz showed that the social pace of rate of return in human capital in the US economy was bigger than that dependent on physical capital, for example, new plant and hardware. Human capital is the nature of work: one of four components of creation.

Running Head: Introduction and Literature Review 23 Topic By [name of student] Course [name of instructor] [name of institution] Date […]

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