Human Capital has significant implications on income inequality. It refers to the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country. Those with high levels of human capital, such as advanced education or specialized skills, tend to have higher incomes because they are more valued in the labor market. Conversely, those with lower levels of human capital tend to have lower incomes. This can lead to income inequality, as those with more human capital are able to command higher wages, while those with less are left behind.
Economics can be intimidating to the person who is not well-versed in business and mathematics. This...
View summary