Human Capital

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(4) definitions of capital

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bank account, infrastructure, equipment, education

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ay tumutukoy sa lahat ng mga bagay na ginagamit ng tao upang kunin at isailalim sa isang proseso ang mga hilaw na materyales upang makabuo ng panibagong produkto

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yamang kapital

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mga likas na kakayahan, kaalaman, at katangian ng tao na nagbibigay ng kapakinabangan sa kanyang sarili at nakakapagdulot ng kalutasan sa pangangailangan ng kanyang lipunan

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human capital

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the skills the labour force possesses and is regarded as a resource or asset

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human capital

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any stock or knowledge or characteristics the worker has (either -- or --) than contributes to his or her productivity

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human capital; innate or acquired

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(5) kaligiran at pinagmulan ng salita w/ dates

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Adam Smith's Wealth of Nations (1776); Irving Fisher's "The Living Capital of the United Kingdom" (1897); Jacob Mincer's (1958) Journal of Political Economy article: "Investment in Human Capital and Personal Income Distribution"; Schultz, Thoedore W. (1961) "Investment in Human Capital"; Gary Becker's Human Capital: A Theoretical and Empirical Analysis, with special Reference to Education (1964)

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the acquisition of talents during education, study, or apprenticeship, costs a real expense, which is capital in a person. Those talents are part of his fortune and likewise that of society.

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Adam Smith's Wealth of Nations (1776)

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(4) na uri ng "fixed capital" ayon kay Adam Smith

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mga makinarya at instrumento ng kalakal; mga gusali; mga pamamaraang nakakapag-unlad sa paggamit ng lupa; mga katangian at kakayahan ng mga manggagawa at mga kasapi ng lipunan

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production depended not just on equipment or land, but also on people's abilities

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Adam Smith's Wealth of Nations

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the years of work forgone to pursue education were rationally compensated with high wage

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Jacob Mincer's (1958) Journal of Political article: "Investment in Human Capital and Personal Income Distribution"

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was cited by the Economics Brief for coing the term "human capital" however, a Google "---" ....

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Arthur C. Piguo (ca 1950); "N Gram"

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many thought that free people were not to be equated with property and marketable assets

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Schultz, Theodore W. (1961) "Investment in Human Capital"

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US income increased in a higher rate than the combined amount of land, working hours and capital used to produce

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"Investment in Human Capital" (Schultz, 1961)

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Human capital is viewed mostly as the -----

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capacity to adapt

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Gary S. Becker (-- to --), (school and years), may-akda ng (5), (---)

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(1930-2014); Chicago School (1955; 1970-2014); may-akda ng: The Economics of Discrimination(1957), Human Capital, Economic Theory, A Treatise on the Family, The Economic Approach to Economic Behaviour; Nobel Laureate for Economics 1992

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for having extended the domain of microeconomics analysis to a wide range of human behavior and interaction, including non-market behavior

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Nobel Laureate for Economics 1992

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a general theory of determining the distribution of labour incomes

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Human Capital Earnings Functions

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(3) human behaviour

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rational choice, market equilibrium, stable preferences

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(2) contributions, ang "human capital" ayon kay Gary Becker

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specific, and general human capital

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mga kasanayang nalinang para sa isang espisipikong gawain

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specific

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makro-kaalaman o kakayahang nadebelop mula sa ekstensibong pag-aaral o karanasan na maaaring magamit para sa mas malawak sa layunin o gawain

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general human capital

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(3) hypothesis on economic way of looking at life

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selectivity hypothesis, productivity hypothesis, structural approach

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because of their household responsibilities are likely to be found in less challenging, flexible and part-time works (---, yr)

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The Dilemma of Married Women (Coverdill, 1988)

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--- and --- (yr), state that married women likely to prefer to stay at home or part-time work once they have preschool child and they prefer to go back to full time work only after the children leave home

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Treas amd Widmer (2000)

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(3) individual level characteristics as factors influencing earnings inequality between married and unmarried women

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level of education and training, work experience, and behavioral traits

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believes that individuals are shaped by the bigger structures of society

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Structural Approach (SA)

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focus on the interrelationships between the larger social structures or institutions of the society, and also how these structures and institutions affect individuals in the society (--- and ---, yr)

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Structural Approach (Ritzer and Goodman, 2004)

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determined by the organizations and organizational structure

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SA and Earnings Inequality

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the job positions in organizational structure are based on an ----

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organizational hierarchy

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--- (yr), states that wages are affected by the structure of the market where the company is operating

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Coverdill (1988)

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(2) models of the SA that explain the earnings inequality

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Dual economy theory; Segmented Labor Market theory

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"economy is not homogeneous and, therefore, can be divided into (2)" (--3--, yr)

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Dual Economy theory; monopoly sector, amd competitive sector; (Gordon, Edwards, and Reich, 1982)

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(4) factors, dual economy theory (--3--, yr)

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nature of business, size of the firm, industrial location, and market concentration (Tolbert, Horan, and Beck, 1980)

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there are different job markets amd different job professional works in different job markets

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segmented labor market theory

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(3) factors, segmented labor market theory

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occupation, geography, and nature of industry

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the research on (5) indicate that women are earning less than their men counterparts

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lawyers, physicians, scientists, financial professionals on wall street, amd faculties in higher education

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-- (yr), states that ----- is one of the most significant factors in determining the likelihood of upward mobility from blue-collar to white-collar positions and profession

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Boston (1990); having never been married

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"women are devaluated at work and often sorted for particular segment of work or occupation so-called ----"

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Gender Level Model; pink collar jobs

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(5) sources of human capital differences

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innate ability, schooling, school quality and non-schooling investments, training, pre-labor market influences

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"schooling is not the only way in which individuals can invest in human capital..."

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Ben-Porath model and the human capital theory of G.S. Becker

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becker had overstated the importance of learning

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the spence view (Michael Spence and the Signaling Theory)

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education matters not because it imparts knowledge, critics said, but because of what it signals about the people who complete university

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Michael Spence and the Signaling Theory

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(2) Kritisismo

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The Spence View (Michal Spence and the Signaling Theory); Pierre Bourdieu, Conceptual Alternative to Human Capital

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(4) Conceptual Alternative to Human Capital

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cultural capital, social capital, economic capital, symbolic capital