POLS 1303 Lecture Notes - Lecture 16: Human Capital

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Pols 1303 lecture notes november 22nd (cid:862)ca(cid:374)ada has a (cid:271)asi(cid:272)ally free (cid:373)arket, (cid:272)apitalist e(cid:272)o(cid:374)o(cid:373)y(cid:863) (cid:862)capitalis(cid:373)(cid:863) is a syste(cid:373) for orga(cid:374)izi(cid:374)g e(cid:272)o(cid:374)o(cid:373)i(cid:272) a(cid:272)ti(cid:448)ity (cid:894)(cid:449)ork(cid:895). A (cid:449)ay of orga(cid:374)izi(cid:374)g who produces what and for whom. Most societies use this way of organizing economic activity. All the different kinds of capital are a type of resource and provide an advantage. Capital is a form of wealth owned by a person for a particular purpose such as starting a company or investing. The various tools that we use in our work, anything you use in your work is a type of capital (brain power, computers, hammers, factory etc. ) Capital is owned by a person or organization; most businesses are in the hands of privately owned companies or corporations. These tools that people use in their work are privately owned. Capital is not just a thing but something that is defined by its purpose.

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