Perspectiva do Global Journal of Commerce & Management
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ISSN: 2319-7285


Conceptual Analysis of the Theory of Human Capital: A New Dimension

J.S. Pant*, B. Shekar, M.M. Bagali

Numerous studies have emphasised the importance of investment in human capital and their relationship to performance and outcome, where the credit goes to Nobel Prize winners and University of Chicago economists Gary Becker, Theodore Schultz and James Heckman.

Uneven Distribution of Traits, Characteristics and Qualities (TCQs) constituting the human capital is not uncommon, though most of them are pre-ordained or inherited, but to a large extent acquired or cultivated. Once prevalence of these factors and features in human capital is recognised and realised, it will have a transformational impact on human life and society. The paper aims to present some of the results of our studies, bringing out the human capital paradigm and its relevance in human accomplishments. This paper has several purposes, however it is mainly to propose and articulate a human capital taxonomy that is grounded in psychological constructs. We do this by defining human capital in terms of several well‐studied psychological domains, and focus on two areas -temperament and character.