The Research On Relation Of Service Economy And Human Capital

Developed countries like the United States were stepping into Service Economy from Industrial Economy since the 1960s. Service economy is developing rapidly in the world during the past twenty or thirty years. Producer services used as the middle input of the production process have always been growing faster than other service sectors, and have become the leading industries of the Service Economy. The rapid growth of the producer services, which is human-capital-intensive, and its more and more important position cause the result that human capital become the leading production factor of the service economy instead of material capital.The continuing progress of the new Revolution of Science and Technology and the supply-decided -by-demand market status in service economy are respectively the technological and market conditions, which promote human capital to become the leading production factor of the service economy. Human capital can become the leading factor for its professional talents and its innovative capabilities which allow it to adapt to the demanding requirements of the technological and economic environment. In the service economy, human capital investment, accumulation and employment have become the commonest economic activities, which can bring competitiveness to the macro-economic and micro-economic subjects.The development course of the service economy of the developed countries tell us that the human-capital-intensive producer services indeed are the most competitive service sectors with the rapidest growth. The regression analysis of the correlation between the factor of human capital and service economy shows a result consistent with the idea that human capital is the leading factor of service economy.