Endogenous growth theory emphasizes the role of human capital from "summary" of Growth Theory by Robert M. Solow
Endogenous growth theory posits that sustained economic growth is driven by factors internal to the economic system rather than external forces. One crucial factor highlighted in this theory is human capital. Human capital refers to the knowledge, skills, and abilities of individuals that contribute to their productivity and overall economic output. In the context of endogenous growth theory, human capital plays a central role in driving technological progress and innovation. As individuals acquire more knowledge and skills through education, training, and experie...
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