Scotty Hendricks in Big Think:
The concept of human capital has only been around since the ’50s but it’s become an increasingly popular way of looking at the economic potential of countries. Typically defined as “the attributes of a population that, along with physical capital such as buildings, equipment, and other tangible assets, contribute to economic productivity” it includes things such as education levels, skill sets, and other intangible items that foster economic growth.
While we already know that a countries’ average education level is associated with its economic growth, a recent study looking into the growth of human capital around the world over the last 26 years has included healthcare outcomes to the mix. While it was created to help motivate lower and middle income countries to increase their human capital investment, it offers a harsh look at the progress the United States has made over the previous 20; if any.