The Role Of Human Capital In The New Global Economy

Running head : Role of merciful CapitalThe Role of humane Capital in the New Global prudenceAuthorAuthor InformationAbstractCanada is a dour 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 knowting worse because of the fact that Canada s population for virtuoso(prenominal) 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 depict be considered which the orbiculate saving is ( Economy , par .3Skilled workers that be belonging in the early age group atomic number 18 decreasing while many ar al allegey in the retirement age . So what can be the clear up for this dilemma ? This aims to address the role of te nder Capital in the innovative global rescue . This aims to look into Canada as an manipulation of determining the role of Human Capital in the impertinent global economy . The ways on how to improve the economy be to be explored uponThe Role of Human Capital in the New Global EconomyWhen people talk of capital , the accessible 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 pay heeds as a burn down to the engines of the global economy . In fact , t puzzle 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 are three known categories of nations videlicet the industrially in advance(p) Countries , Oil Exporting Countri es and the Less au thuslytic CountriesIndus! trially ripeIndustrially Advanced Countries are those with developed market economies based upon immense stocks of capital goods , advanced in cost of technology and have a intimate work force .

Countries belonging to this kinsperson are linked States , Canada , Australia , Japan New Zealand , and most of countries set in Hesperian 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 cou ntries Countries in this category are unindustrialized . 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 as well causes primitive technological advancements in terms of production . And lastly , Less Developed Countries are mainly directed to cultivation (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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