Essays on Capital Accumulation

Introduction

Hiring professional and skilled employees is the key objective of the Human Resource Management (HRM) department. For the purposes of the realization of this strategic objective, the HR manager is obliged to pursue equality in provision of working opportunities for all employees regardless race, sex, nationality or any other supplementary factor giving ground for unequal attitude. In this particular situation, the managers of the company request the Human Resource Department to resolve issue pertaining to division of quotas between ground crew and other employees. With that, the attention of the managers is focused on the age of the employees ...

Conflict between Capitalists and Landlord

There exist diminishing returns to scale in the agricultural production due to the limited amount of land. When the world population increases, then the production of the agricultural production increases while more people are hired in the agricultural production. The surplus is distributed to the landowners (as rent), to the workers (as the wage), and the capital owners (as profit). Under the condition of diminishing returns, the agricultural production cannot increase the surplus to increase the profits, the wages, and the rent. The rent is fixed for the limited amount of land; therefore, the capital owners and the workers ...

The neoclassical growth model also known as the Solow-Swan model was put forward to explain long-term economic growth and development by examining economic variables such as accumulation of capital, growth of labor and advancement of technological processes. This model can be used to provide theoretical framework which will aid in explaining and comparing the economic growth of China and India. The model stresses out on the manner in which examine and interpret data. For example, China’s high level of investment should not be directly interpreted as steady economic growth (Huisken 238). This is because economic growth in the ...

Abstract

Given the importance of human resource economics to address labor utilization together with its implications for the greater economy, the accumulation of human capital is one of the major related topics. Human capital collection greatly drives the instrumental economic considerations such as unemployment, employment turnover, and the functions of both the labor unions and government policies. Unlike most of the resources that depreciate with time, investment in human capital increases in appreciation and continually exploits the available resources. Although it may consume time, it ensures effective use of qualities and skills while enhancing other resources. The human resource plays ...

Classical economics also known as liberal economics was first developed by the father of economics, Adam Smith. His book "An Inquiry into the Nature and the Causes of the Wealth of Nations" was written in 1776. This period is considered as the beginning of classical economics. Adam Smith contributed to economics with his moral thought. He has given our capitalist economy a different form. But Karl Marx first used the term classical economics . He was the most influential thinker and most controversial in his time. He was a great philosopher, social scientist and revolutionary. He is the main person ...

Summary of the Paper

The ‘Municipal Housekeeping: The Impact of Women’s Suffrage on Public Education’ by Celeste Carruthers and Marianne Wanamaker is an informative paper that provides details on the extent to which women’s suffrage influences public education. From the paper, it is well evident that the reduction in the black-white gap has contributed substantially to the improved quality of black schools. The paper proposes that all these changes are as a result of major contributions by women. Today, as opposed to the past, more women exercise their voting rights thereby increasing the pivotal voter’s preferences for public education. The ...

This paper analyzes the factors that determine the long run economic growth and how each factor affects the income growth of per-capita of a country. For this paper, economic growth is taken to mean an increase in a country’s standard of living over a given period. Factors relating to economic growth in the long-run basically focus on those factors which are measured due to the change in per-capita Gross Domestic Product (GDP). Various approaches can be used to explain these factors, for instance, the production function approach. Basically, it organizes the growth in terms of as an aggregate production function. Production ...