2S) PEOE-2nd A- Human Capablity (13-04-2017) Bharghava Shyam
Admission Number: MAE15007 (13-Apr-2017)
Question:
Education is supposed to make
you far-sighted, it should enable you to see problems before they hit you.
Education is therefore your best defense in a dangerous world.
Discuss the above by
contrasting how the human capital approach and the capabilities approach,
respectively, would look at it.
Answer:
Human Capital Approach:
Human capital approach will
think about production of wealth and measures the economic value of Humans. The
final product of Human capital approach is increase the Gross Domestic Product
(GDP) of Nation state.
This (Gray Becker in Human
Capital Approach) will say because of scientific knowledge there is lot of
improvement in education. And education got more value because of this
scientific knowledge.
In Technical schooling and in
job training is developing the Growth of Knowledge, and it’s embodied in people
to become scientists, technicians, scholars etc. in this he saw this as best
defense.
In this way for them (Human
Capitalist Approach people) is seeing education as far sighted.
But here there is criticism
is also there on this Capital theory. Increasing this type of education will
increase competition. This creates frustration than hope in education.
Human Capability Approach:
Human Capability Approach is
welfare economics of humans. It will think about the wellbeing of humans. The
final product of this approach increase of life expectancy at birth, expected
years of schooling, per capita gross national income. (It thinks about Life,
health and shelter, integrity of body, Senses satisfaction, practical reason,
affiliation, respect other species are its characteristics). In this they try
to develop the Human development index (HDI).
It says GDP is not alone for
Human development.
Capability is Ideal thing
which is very difficult to put in praxis
In this approach, they move
towards well-being ness than material (capital) production. This will helps in
not only about jobs but also on improving on quality of life by those ten
things (Life, Health & shelter etc.).
Difference between Human
Capital & capability approach is Human Capital is self-centered and Human
Capability is World centered. (It may also be possible for human capital to be world-centred)
In Capital approach is those
who sells & buys that they only benefit from this. For example opening IIIT
institute, those who joins in that they invent new model car that will increase
GDP of country and who buys that product they benefit (Those who are in Car).
And it creates pollution. In this more personal returns will be there.
In Capability approach most
of people will benefit from this. In this more social returns will be there.
For example becoming a farmer is more important to develop the life-expectancy.
In this some personal returns and more social returns. It will not affect
society. This helps in Sustainable society (Without cars also we can live but
without food we can’t live). (But this may be possible in Human capital approach also).
Like this Human capability
view of education is more far sighted, than capital approach. So Human Capability education is best defense
in dangerous world.
The
two approaches have been correctly understood. The differences has not been
brought out well enough. Application to the quotation could have been
elaborated upon further.
Grade-
B
OVERALL
A-
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