The theory that suggest that learning material on your own generates the same benefits as those achieved by formally attending classes and receiving a degree is human capital theory.
Human capital are the attributes that qualify one to be important and part of a workforce. A person's human capital is made up of some factors someone would want to hire him or her.
Human capital theory is a concept that places values on individuals in relation to their competencies, knowledge and skills they posses. These attributes allow them to generate an economic return on their favor.
This theory promotes that upward mobility -individual changes to better social stratum- is possible only thanks to education and constant training.
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