From a macroeconomic standpoint, the development of human capital boosts labor productivity and encourages technological advancements.
An economy can develop thanks to its human capital. Increases in human capital in fields like research, education, and management result in improvements in participation rates, social well-being, and productivity, all of which support economic growth.
The expansion of people's knowledge and skills can contribute to economic development and have an impact on economic growth. The amount of skilled labor required depends on the rate of economic growth spurred by consumer spending and company investment.
It Raises returns on investment and makes growth more sustainable, all of which contribute to the fight against poverty.
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