Research On Heterogeneity Of Human Capital

Human capital is the most important factor of productivity improvement, and investment on human capital will gain a much higher ROI than on others. Heterogeneity of human capital is the key to all above. It is ignored under equilibrium analysis and hypothesis of capital homogeneity, that human capital with characteristic of heterogeneity has a decisive impact on long-term economic development.In retrospect of the evolution of human capital theories, the author develops T. W. Shultz's thought that it is the much higher ROI of human capital that determined the dynamic development of economy, and makes a research of heterogeneity-homogeneity and its derivative characteristics of human capital in the respect of the ROI differentiation. The author has divided human capital into four heterogeneous categories, develops a structure model of heterogeneous human capital, and engaged in research with the emphases of human capital framework and its influence on investment decision. Detailedly the research finds that labor division can be decided by heterogeneity, route-dependent effect might weaken the benefit of human capital investment in some certain condition, and the investment sequence will decide the human capital composition of anybody. Sequentially the author studies the human capital distribution with enterprise development and interrelated risk management.Above all the research purpose of heterogeneity of human capital is to distribute productive factors into different categories of capital, especially human capital with diverse ROIs, and find a way to improve the efficiency of investment and development under the constraint of resource scarcity.