The Role Of Human Capital In The New Global Economy

Running head : Role of merciful CapitalThe Role of Human Capital in the New Global prudenceAuthorAuthor InformationAbstractCanada is a long 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 getting worse because of the fact that Canada s population for masterful worker is becoming more of an upside-down pyramid . Economy is the management of the resources and income of a nation . In this , the wider scope provide be considered which the orbiculate saving is ( Economy , par .3Skilled workers that be belonging in the young age group are decreasing while many are already in the retirement age . So what can be the correct for this dilemma ? This aims to address the role of Human Capital in the innovative global economy . This aims to look into Canada as an exercise of determining the role of Human Capital in the new global economy . The ways on how to improve the economy are to be explored uponThe Role of Human Capital in the New Global EconomyWhen people talk of capital , the social 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 serves as a fuel to the engines of the global economy . In fact , t present 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 there are three known categories of nations videlicet the industrially Advanced Countries , Oil Exporting Countries and the Less authentic CountriesIndustrially advancedIndustrially Advanced Countries are those with developed market economies based upon immense stocks of capital goods , advanced in cost of technology and have a well-educated work force .

Countries belonging to this kinsperson are United States , Canada , Australia , Japan New Zealand , and most of countries set in Western 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 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 also causes primitive technological advancements in terms of production . And lastly , Less Developed Countries are mainly directed to agriculture (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: Orderessay

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