ECON 1BB3 Chapter Notes - Chapter 7: Human Capital

• School: McMaster University
• Department: Economics
• Course: ECON 1BB3
• Professor: Bridget O' Shaughnessy

Document Summary

There are several ways to enhance sustainable economic growth in any societies: enhance property right and rule of law. Improved healthcare system will ensure a healthy population and led to a more productive working population, which translates to direct economic benefits to the society. An improved education system, especially one that catches up with current advancements in technological changes and social development will better prepare the student for the society and working environment: policies that promote technological change. As mentioned before, technological change is key to rgdp growth. Encourage the population to engage in saving will boost the potential for economic growth. By providing tax incentives and investment tax credits, which both encourages financial and individuals saving through cuts on government taxation, it enables greater amount of investment available for the market. A new productivity model developed in early 1900"s which places additional focus on technological changes and human capital, knowledges and education.