Human Capital and Global Challenges

863 Words Jan 29th, 2018 4 Pages
They set out with the same goal, in example, trying to explain the secrets of success (and failure) of a nation: why and how a nation managed to reach economic growth and generates prosperity. The methodological basis, either in classic or modern economic thinking, believes that the concept of human capital is only sensible and has a practical implication if understood in the whole framework. For that reason, it is very interesting to see the significance and meaning of the concept of human capital in the global context.

Theoritically, it is not too difficult to adapt the global context into the concept of human capital. Global context does not make the concept of human capital irrelevant but requires to increase a certain quality in understanding human capital. In national context, human capital is associated with quality sourced from formal education and the outputs are technical knowledge and skills. But, the global context requires human to pay attention to non-formal education. Non-formal education includes the experience and skills gained from the multi-cultural social interaction. This extra quality conception makes cosmopolitan human capital. In other words, the global context requires us to build cosmopolitan human capital (Ng, Ang and Tan 2011).

The essence of cosmopolitan…

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