What is the role of education in human capital formation?

Here are the key roles of education in human capital formation in bullet points:

– Skill Development: Education imparts skills and knowledge, enhancing human capabilities.
– Productivity Boost: Educated individuals tend to be more productive in their work.
– Innovation and Creativity: Education fosters innovation and critical thinking skills.
– Enhanced Employability: Educated individuals have better job prospects and higher earning potential.
– Health and Social Development: Education correlates with better health and societal progress, contributing to overall development.
– Adaptability and Learning: It equips individuals with the ability to adapt and learn new skills, essential in evolving work environments.