Much of what we call consumption constitutes investment in human capital. Direct expenditures on education, health, and internal migration to take advantage of better job opportunities are clear examples. Earnings foregone by mature students attending school and by workers acquiring on the-job training are equally clear examples.
Theodore SchultzRelated topics
acquiring advantage attending call capital clear consumption direct earnings education health human investment job migration school take trainingRelated quotes
All these soft kinds [of stone] have the advantage that they can be easily worked as soon as they have been taken from the quarries. Under cover, they play their part well; but in open and exposed situations the frost and rime make them crumble, and they go to pieces. On the seacoast, too, the salt eats away and dissolves them, nor can they stand great heat either.
Vitruvius
Perhaps the most valuable result of all education is the ability to make yourself do the thing you have to do, when it ought to be done, whether you like it or not; it is the first lesson that ought to be learned; and, however early a man's training begins, it is probably the last lesson that he learns thoroughly.
Thomas Henry Huxley
A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly.
Robert A. Heinlein
As regards foreign investment, I said we have our own priorities and cannot open up so others can exploit us...Cutting red tape is one aspect of liberalisation, inviting all multinationals across the world is another thing. What I aimed at was a model of more internal competition, but resisting foreign capital.
V. P. Singh
