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| Source:Liberty Pen- Conservative writer Thomas Sowell, on Firing Line With William F. Buckley, in 1983. |
"Thomas Sowell explains the value of human capital and the dynamics of foreign aid. Liberty Pen."
From Liberty Pen
Without human capital or having enough human capital, countries simply won't have enough resources to build or continue a developed economy. And I'm not talking about human capital in numbers of people, there are plenty of large countries that are still third world countries: Egypt, Iran, China even, as well as India, but I'm talking about human capital in the numbers of people who have the skills to be successful in life and the ability to be productive for themselves with a good job that allows for them to be able to live a good life, but the skills to be productive for the society as a whole, because they are able to produce things that people want, need and can afford.
Without human capital or having enough human capital, countries simply won't have enough resources to build or continue a developed economy. And I'm not talking about human capital in numbers of people, there are plenty of large countries that are still third world countries: Egypt, Iran, China even, as well as India, but I'm talking about human capital in the numbers of people who have the skills to be successful in life and the ability to be productive for themselves with a good job that allows for them to be able to live a good life, but the skills to be productive for the society as a whole, because they are able to produce things that people want, need and can afford.
Without human capital, countries won't have the resources to be able to develop the other things that countries need to be successful economically, militarily and diplomatically. Because they won't have the skills sets to be able to do these things very well. So what countries need is human capital and then the freedom to be able to use those skills that they have to produce for the rest of the country.
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