Unformatted text preview: invested today in human capital is very likely to yield a greater return in the future. The author describes human capital as a “economic passport” which allow those who have higher skills or abilities to get a job, earn more money, and have a better life quality. With this in mind, we now can better understand that the massive unemployment might just be a symptom of poor people lacking of human capital, not an economic illness. People often have the fallacy to think that the amount of job offers is fixed. Some believe that if one needs to find a job, he has to wait till other person losses his job. Nevertheless, the fact if jobs are created anytime when individual provides new goods or service. It does not really matter if others loss their jobs or not. One of the remedy of unemployment can be subsidizing education to make sure more people are gaining needed human capital....
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- Fall '11
- Economics, Thought, Yi Ting Chen