The problem of cannot find a good job leads to lack of human capital and this leads to less productivity in society. Productivity is important in our society because productivity is used to determine the living standards in a nation. Productivity is the efficiency in which we convert inputs into outputs in our society where it can be affected by environment and lack of resources (D., 2006). Thus, it could affect everyone’s living standard in a society. Furthermore, human capital is not only about education or job experience, in fact, many other factors such as health and personality traits like determination are highly likely to change an economy circumstances.
(Bourdieu, 1985 cited in Reay, D., 2000). One form of capital can be linked into another such as, economical capital can be converted into cultural capital and cultural capital can be linked into social capital. (Bourdieu, 1986 cited in Reay, D., 2000). I will explore these capitals concentrating particularly on cultural and economic capital in terms of education and the impact they have on the experiences of young people in the second level school system. Cultural/Social/Economic Capital: The choices and transitions into second level education are governed by many things such as, social backgrounds, family experiences, financial abilities and parental control.
It is undeniable that globalization has generally played an important role in the world economy as it has been supposed to enhance global economic growth by free trade, as well as solve some deep-seated issues like poverty and unemployment, which was analyzed in the previous reflections. Despite the fact that open markets have been expanded, many firms must still follow local rules and regulations of the countries in which they are operating. In other words, this fact highlights that the importance of understanding the political context should be treated as a key to any companies’ success. Political risks are defined as the impact of politics on markets by all factors that may politically stabilize or destabilize a country, such as taxes, trade
Due to liberalization of trade and deregulation of financial markets the governments have a little control over the flow of capital which facilitated the movement of businesses across the borders. It showed an impact on several organizations and forced them to take innovative steps in order to improve the operational efficiency through introducing quality management system. Thus many organizations have begun strengthening their businesses through mergers and acquisitions to expand their free markets around the world. This increase in the international economic interdependence showed lot of impact on the concept of traditional industrial relations in several broad ways especially in India. Globalization thus showed its impact both directly and indirectly on the industrial relations systems and its actors by disturbing the relation between "capital" and "labour" in each country.
In this case, the government will be going to make more expenditures in building and developing schooling and educational facilities. As a result, this can provide a chance for the government to prevent from merely depending on the investment in other industrials to rise their nation’s overall capital accumulation. In a developing country, a large investment in the education system or facilities will eventually result in the accumulation of human capital with knowledge, competence, and the ability to achieve an efficiency production. Generally, there are two effects caused by human capital on the economic development. In this context, human capital can be widely used to increase the productions and also help in the development of new technology which in turn affect productivity simultaneously.
They set up the number of products to be created and verify however it ought to be distributed. Both socialism and capitalist economy have several blessings moreover as disadvantages. one amongst the benefits of capitalist economy is that the wider vary of products and services.
Human capital has been identified as a key stimulus of economic development. The theoretical models of economic growth have underscored the role of human capital. The empirical analysis of growth for a broad group of countries shows that the school attainment has positive effect on growth. It has been widely observed that increases in national output have been large compared with the increases of land, man-hours, and physical reproducible capital. Investment in human capital is probably the major explanation for this difference.
Efficient capital market can enhance the growth and wealth of the economy by maintaining the financial sector and with provision of a good channel for investment which play a very important role to engage domestic and foreign investors. The changes in its index of stock market performance can be measured by different factors including macroeconomic social and political
According to the theory of globalisation, trade, investment, communication, information flows, cultural exchange, and politic cooperation are always coexistent issues and affect significantly when a nation decides to open their economy. Previous studies have always considered trade as an independent issue in the estimation, and this is a significant limitation. Modern economic theory reflects the fact that human and technological resources are one of the essential resources for economic development and this is impulsed by trade and investment liberalisation. Moreover, the theory of modernisation emphasises that investment, technology, education and cultural modernisation are important resources to promote economic development and increase social welfare. However, since Sub-Sahara Africa is the lowest income area of the world, the impact of free trade on their income may be different.
1. Economy People suppose to take a broader view on the performance of the economy in terms of particular goals and objectives. When people’s confidence on economy is low, it affects their standard of living in a negative way, and it also affects their future planning. A study of how individuals and societies choose to employ scarce resources to produce various commodities and distribute them among various groups in the society, it is known as economy, one factor that can do almost everything without literally doing anything. The fate of every individual in the whole world is influenced by three economic ideologies which are mercantilism, which states that the best economic system was one that increased the nation’s exports and thereby increased its holdings on gold.