Various Concepts of Human Capital in Process of Education

Abstract

Theory of human capital views education as a specific production factor and as a specific sort of capital. Besides this theory, alternative concepts of education were developed. Philter theory which is interested in a selective function of education and created a different point of view of economic analysis phenomena in education. Signal equilibrium states for better or worse according to Pareto´s concept of efficiency and according to higher or lower difference between private and public educational returns.

Keywords

• Pareto´s efficiency
• human capital
• philter theory
• education
• signal equilibrium