Charles Wheelan Human Capital Essay
According to Charles Wheelan, the reason that some people are richer than others is due to human capital. Human capital is defined by Wheelan as “the sum total of skills embodied within an individual.” These skills can include “education, intelligence, charisma, creativity, work experience” and more. Wheelan states that there is a greater need for people with specialized training and skills rather than jobs, such as fast food employees, that do not require a large skill set. These specialized jobs earn more money due to the “significant investments in human capital” that a person would need to make while acquiring these skills. Other skilled jobs, such as accounting and engineering, are universal jobs that are always in demand worldwide. Due
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