Inv capital humano

Inversión en Capital Humano
“The most valuable of all capital is that invested in human beings” Alfred Marshall, Principles in Economics “An investment in knowledge pays the best interest.” Benjamin Franklin, Poor Richard’s Almanack
Capital Humano: Teoría y Evidencia Empírica MAE - UCEMA Prof. Julio Elías

Basado en los Capítulos I, II y III del libro Human Capital de Gary S. BeckerIntroducción

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“… Secondly, the wages of labour vary with the easiness and cheapness, or the difficulty and expense of learning the business. When any expensive machine is erected, the extraordinary work to be performed by it before it is worn out, it must be expected, will replace the capital laid out upon it, with at least the ordinary profits. A man educated at the expense of much labour andtime to any of those employments which require extraordinary dexterity and skill, may be compared to one of those expensive machines. The work which he learns to perform, it must be expected, over and above the usual wages of common labour, will replace to him the whole expense of his education, with at least the ordinary profits of an equally valuable capital. It must do this, too, in a reasonabletime, regard being had to the very uncertain duration of human life, in the same manner as to the more certain duration of the machine.” Adam Smith, The Wealth of Nations, Book I, Chapter X.

Introducción
• Introducción a la primera edición del libro Human Capital de Becker – Some activities primarily affect future well-being; the main impact of others is in the present. Some affect moneyincome and others psychic income, that is, consumption. Sailing primarily affects consumption, onthe-job training primarily affects money income, and a college education could affect both…This study is concerned with activities that influence future monetary and psychic income by increasing the resources in people. These activities are called investments in human capital. – Recent years havewitnessed intensive concern with and research on investment in human capital, much of it contributed or stimulated by T. W. Schultz (He was and Agricultural Economist interested in Economic Development). The main motivating factor has probably been a realization that the growth of physical capital, at least as conventionally measured, explains relatively small part of the growth of income in mostcountries. – The search for better explanations has led to improved measures of physical capital and to an interest in less tangible entities, such as technological change and human capital. – Inequality in the distribution of earnings and income is generally positively related to inequality in education and other training. Unemployment tends to be strongly related, usually inversely, to education.

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Una cuenta bancaria, acciones de una empresa, son algunas formas de capital en el sentido que generan un flujo de ingreso durante un período largo de tiempo. Educación escolar, un curso de computación, gastos en salud, son también diferentes formas de capital humano en el sentido que mejoran la salud, aumentan los ingresos, durante gran parte de la vida de las personas. Comoconsecuencia, podemos decir que los gastos en educación, entrenamiento, salud, etc., son todas inversiones en capital. Sin embargo, estos producen capital humano, no físico o financiero, porque no podemos separar a la persona de sus conocimientos, calificación laboral, salud, o de su valores, de la misma manera en que si podemos desplazar los activos físicos y financieros sin necesidad de movilizar a sudueño.

Efectos de la Educación sobre la Salud
• La educación es uno de los factores que se encuentra más correlacionado con la buena salud, independientemente de la medida de salud que se utilice (e.g. tasa de mortalidad, salud reportada por las personas) y de las unidades de observación (i.e. grupos o individuos). – Las personas más educadas viven más años (Ver Lleras-Muney 2006). – Es...