Bring out the differences between human capital and human development.

The basis differences between human capital and human development are –

•Human capital considers that the productivity can be increased by education and health whereas human development believes that the education can be beneficial only when the human beings are able to derive maximum benefit out of what they have learnt.

•Human capital is a narrow concept which treats human being as a means to achieve higher productivity whereas human development is a broader concept which considers human beings as an end in themselves. It believes that human welfare can be achieved through investment in education and health.