Newsletters


2020-02-07
Newsletter 228 - School Development & Improvement Planning 2006-2009 - PART 3


HUMAN CAPITAL

Human capital for me rest on two pillars namely the Human Resource Management and Development and Social Capital (social networks which create in society an enabling and supportive environment).
“The term human capital may not be familiar to all of you. Human capital refers to the skills, education, health, and training of individuals. It is capital because these skills or education are an integral part of us that is long-lasting, in the way a machine, plant, or factory lasts … I am not saying that machinery and physical capital are of negligible importance in a modern economy. Of course, you need good machinery, equipment, and factories. But you also need skilled workers and managers, and innovative entrepreneurs to utilize this machinery effectively … Education and training not only promote growth and efficiency, but they can reduce inequality and the impact of disadvantaged backgrounds. Education is the most effective way for able young people of poor backgrounds to rise in the economic hierarchy, because human capital is the main asset of 90% of the population. This is why income inequality in a nation is greater when inequality in education is greater. Indeed, income inequality is more generally related to inequality in all types of human capital: training and health, as well as in schooling … To understand human capital, you have to go back to the family, because it is the families that are concerned about their children and try, with whatever resources they have, to promote their children’s education and values. Families are the major promoters of values in any free society and even in no-so-free societies … You cannot grow without a strong human capital base. Success depends on how well a nation utilizes its people. If it treats them badly, leads them to under-invest in themselves, or neglects a significant fraction of them, it will fail in the modern world, no matter how much machinery it utilizes” (Gary Becker, 1996)

The Western Cape Education Departments HCDS consist of four (4) strands or thrusts namely;
1. Conditions of Education (WSE 1-3)
2. Quality of Learning & Teaching (WSE 4-6)
3. The Contextual Factors (WSE 7-9)
4. Skills Development.