This theory argues that the development of people as a resource (human capital) is as important in creating an internationally competitive country as the equipment to make things (industrial capital), or the money to set up new enterprises (financial capital). The need to develop the right sort of human capital can be seen to underpin many social, as well as economic, policies ? education and training are prime examples of policy areas where human capital thinking is used to highlight the importance of the economy.
Human capital theory can be seen as a theoretical response to the idea that globalisation is important. As we have seen, different theories attempt to explain the role globalisation plays in the world. Some of these highlight the need to compete on a worldwide basis. These have, in turn, led to a focus on the need for a skilled workforce. So we can see that there has been a complex sequence which results in human capital theory. Bear in mind that human capital theory is also subject to criticism. It is the fate of any theory that attempts to deal with big issues that over time, various gaps and omissions will become clear. Perhaps, in time, human capital theory will disappear completely, replaced by a new theory that seems to explain things better.
This second section of Section 4 has been looking at some of the wider contexts in which your Learning to change will take place ? after all, it would be difficult to come up with a context that is much bigger than the whole world. The rest of this section returns to focusing on how you might take forward your own personal change. But this personal change might be helped by aspects of the wider picture; or it might be hindered by them. For example, if your personal plan involved acquiring work-related skills then the UK policy context might fit in with your goals very well. If, on the other hand, you wanted to give more time to a recreational interest, the fit might be less helpful.
Your work on your action plan is an important aspect of this section. Also important is the way that you reflect on your action plan. The ways that you use the different viewpoints and theories to discuss your action plan is important for Learning to change.
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