On Human Capital

The study on human capital originates in exploring a series of economic anigmas in modern economic activities. The theory of human capital has resulted in a revolutionary change in economic analysis and a settlement of a series of problems in traditional economics. The theory of human capital does not violate the principle of Marx's political economy, but on the contrary, we can appreciate in On Capital the property claim of human capital on the surplus value and the usufruct of human capital investment. China is the richest country in manpower but the poorest in human capital in the world. In the 21st Century, international competition in the final analysis is the one for talents. So if China is to win the competition, she must bring up a large amount of talents of outstanding ability. This requires us to change our ideas and create and perfect the methods and mechanism to cultivate talents. China needs the theory of human capital.