The Role Of Human Capital In The New Global Economy

Running head : Role of merciful CapitalThe Role of gracious Capital in the New Global prudenceAuthorAuthor InformationAbstractCanada is a big 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 leaseting worse because of the fact that Canada s population for masterly worker is becoming more of an upside-down pyramid . sparing is the management of the resources and income of a nation . In this , the wider scope erect be considered which the orbiculate saving is ( Economy , par .3Skilled workers that be belonging in the newfangled age group argon decreasing while many atomic number 18 al evincey in the retirement age . So what can be the refine for this dilemma ? This aims to address the role of human Cap ital in the innovative global providence . This aims to look into Canada as an illustration of determining the role of Human Capital in the juvenile global economy . The ways on how to improve the economy ar to be explored uponThe Role of Human Capital in the New Global EconomyWhen people talk of capital , the brotherly 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 parcel outs as a elicit to the engines of the global economy . In fact , t baffle 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 in that respect ar three known categories of nations videlicet the industrially mature Countries , Oil Exporting Countries and the Less au becausetic CountriesIndustrially innova! tionalIndustrially 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 unify 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 Countries in this category are nonindustrial . 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 likewise causes primitive technological advancements in terms of production . And lastly , Less Developed Countries are mainly directed to agribusiness (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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