Human Capital: Perspectives, Challenges and Future Directions


Margaret Lawrence (Editor)
Felicia Murray (Editor)

Series: Economic Issues, Problems and Perspectives
BISAC: BUS030000

In this compilation, the authors outline the main stages that have marked the transformations of the notion of human capital, as well as the attempts to measure it, with particular reference to the OECD Survey of Adult Skills. They assess whether Sachs’ et al. (2015) negative long run welfare consequences of digitalization also arise when the government as an agent of young households invests in human capital with the aim to counteract the decrease in labor productivity resulting from the substitution of robots for traditional capital. They also question whether robots raise or diminish existing unemployment. Next, the book explores how “brain drain” affects human capital development and utilization with its consequences on the development of West Africa, using descriptive information along with a review of relevant literature.

The authors examine the link between human capital development and substance use from the perspective of adolescence into adulthood. Theoretical, methodological and practical implications for extending research on this particular population are also addressed. Following this, the book discusses a scientific analysis with qualitative and quantitative results that demonstrate the relevance of the organizational and administrative behavior that makes it possible to develop productive human capital in different settings, including within families. The authors present findings on the Theory of Vacuum which allows for the performing of deep analysis of vacuums’ structure and determining their previously unstudied aspects.

This work offers and verifies a hypothesis on the existence of vacuums in human capital, with the goal of studying the structure of human capital from the position of the Theory of Vacuum. Following this, the work provides an overview of a human capital theory based on increasing rates of return to education. This theory explains their relative historical growth path divergence and simulations that predict their future income per capita convergence. The authors also analyze how High-performance Work Systems could create human capital that efficiently develops organizational processes and increases company performance, thus making it easier to understand how Human Resource Management practices could enhance organizational performance. In the final chapter, the authors determine new challenges for human capital through consideration of its infrastructural role in the system of entrepreneurship. In order to determine the role of human capital in the system of entrepreneurship, the authors use the methods of regression and correlation analysis. (Imprint: Nova)



Table of Contents


Chapter 1. Rethinking Human Capital: Definition and Operationalization of a Controversial Notion (pp. 1-38)
Federica Cornali

Chapter 2. Robots, Human Capital, Welfare and Unemployment in a Digital World Economy (pp. 39-82)
Karl Farmer

Chapter 3. Brain Drain: The Bane of Human Capital Development and Utilization in West Africa (pp. 83-114)
Rasaki Stephen Dauda

Chapter 4. Human Capital and Substance Use: A Lifespan Perspective (pp. 115-144)
Manju Chawla and Elizabeth Trejos-Castillo

Chapter 5. Human Capital Productivity: A Family Challenge (pp. 145-162)
Sandra Vélez

Chapter 6. Vacuum in the Structure of Human Capital: A View from the Position of the Theory of Vacuum (pp. 163-182)
Elena G. Popkova, Aleksey V. Bogoviz and Svetlana V. Lobova

Chapter 7. Can Human Capital Alone Close the Brazil-US Income Gap? Expected Contributions of Human Capital to Economic Development in Brazil and the US (pp. 183-218)
Joilson Dias

Chapter 8. HPWS and the Mediating Effects between Human Capital and Organizational Performance (pp. 219-256)
L. Para-González, D. Jiménez-Jiménez and Á.R. Martínez-Lorente

Chapter 9. New Challenges for Human Capital From the Positions of Its Infrastructural Role in the System of Entrepreneurship (pp. 257-276)
Elena G. Popkova, Irina A. Morozova and Tatiana N. Litvinova

Index (pp. 277)

Additional information