What is Social Protection?

Human capital development

"(...) human capital is considered the component of education that contributes to an individual’s labor productivity and earnings while being an important component of firm production. In other words, human capital refers to the ability and efficiency of people to transform raw materials and capital into goods and services, and the consensus is that these skills can be learned through the educational system. That said, human capital development is important for development for its intrinsic value as a development goal in its own right, not only because of its instrumental value"

Source: Son, H.H. 2010. 'Human Capital Development'. ADB Economics Working Paper Series No.225. Asian Development Bank.<https://www.adb.org/sites/default/files/publication/28427/economics-wp22.... Accessed 12 August 2020.