Relationship between Human Capital, Education, Health and the Economic Development

Essay by OsuyelCollege, UndergraduateA-, May 2006

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Relationship between Human Capital, Education, Health and the Economic Development


The economic growth in general terms has three objectives which are economic development; social equity, and environmental conservation. Economic development means the well being of the people and elimination of poverty. The social equality contains access to basic needs such as health, education; human security and rights; gender equity; and distribution of benefits and access to resources in the certain country. Environmental conservation is related to the conservation of natural resources and reduction of the effects on physical and biological resources.

For some people economic development means creating good jobs to the people with high salaries, with career opportunities that provide economic stability for individuals. This is an excellent criterion to measure the success in development studies for the health and wealth of a country, which is closely related to the opportunities and successes of an economically developed country.

Without work and the flow of money the certain country can be unhappy. In this country the salaries are high, taxes are less, and the psychical health of the people is constant.

According to Wikipedia, "Economic development is the development of economic wealth of countries or regions for the well-being of their inhabitants. The study of economic development is known as development economics. Public policy generally aims at continuous and sustained economic growth and expansion of national economies so that 'developing countries' become 'developed countries'. The economic development process supposes that legal and institutional adjustments are made to give incentives for innovation and for investments so as to develop an efficient production and distribution system for goods and service".(

Economic development focuses on ensuring an environment where the companies can create corporate formation, job creation, and cash flow through the country. Such creative efforts need the support of the...