THE EFFECT OF HUMAN CAPITAL ON DEVELOPMEN

Income inequality between societies is enormous nowadays. Fortunately, this income inequality can be compensated by life-long education and health spendings. These life-long education and health spendings lead to a phenomenon called human capital. In other words, once the more qualified and healthy individuals a society has, the more likely it is to grow in economic terms. It has no doubt that human capital is one of the most important factor in the development of a society or country. Especially in the information and technology era that we are in, it is obvious that the real power is to make individuals living in the society more knowledgeable and qualified. The purpose of this study is; to analyze the relationship between human capital and development, and to reflect this relationship in quantitative terms.