Human capital발음듣기
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Human capital
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If you wanted to build or produce most anything, I want to think a little bit about what you would need to do it.발음듣기
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These guys are up to making something with iron or maybe making iron bars, or making some type of thing out of iron.발음듣기
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These guys putting these hot bars of iron inside of whatever this thing right over here is, or the people working on the factory line.발음듣기
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You need people to actually work on the factory line, to tighten bolts and all the rest of things.발음듣기
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In the classical sense, when you think about all of these different things that you might put into production, sometimes they're referred to as the factors of production, they separate out ...발음듣기
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Sometimes, just to throw it in there, sometimes you'll throw in management or organization in here.발음듣기
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They kind of have this separate distinction, because these are things that are made by human beings for the specific purpose of producing other things.발음듣기
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In this case, the building and the tools, the whole reason why they were made is to make other things.발음듣기
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If we go to kind of more modern times, you'll hear words like "human capital" or financial capital."발음듣기
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In the classical sense, capital were things that people made so that those things can help us make other things.발음듣기
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In modern times, when people talk about human capital, they're trying to make the same analogy.발음듣기
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They're kind of investments made in humans, so that those humans are better at producing other things.발음듣기
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Human capital, when people refer to it, they are things like education, skills, talents that someone might have, talents, experience that someone might have inside of them or that were invested in them, (if you think about the situation of education) that make them more productive.발음듣기
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They're things that are thrown into a human being that make them able to produce more output.발음듣기
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This is what people refer to as "human capital" and how it's different than just straight up labor.발음듣기
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Look, any human being can go there and move something from one place to another or pick something up and put it on a shelf, or take it off of a shelf and put it on another shelf.발음듣기
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What human capital is, are the investments in that person that make them more productive, more skilled, more able to do more interesting things.발음듣기
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The same thing is true (just to throw it in there, just so you can kind of see this analogy) is financial capital.발음듣기
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There's money for money's sake that you could use to buy a hat, or that you could use to buy really almost any of these other things.발음듣기
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When people talk about financial capital they're talking about money that's being used for the purpose of producing more output.발음듣기
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It's the money in the cash register, so that you can actually run your store or run your restaurant.발음듣기
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Kind of traditional capital, for buying these capital goods, so that you can produce more output.발음듣기
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It's central to the word capitalism in it's classical sense and then maybe in the more modern sense.발음듣기
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