Free Essay On Human Capital And Development (Economic Report)

“Promoting health, preventing disease: is there an economic case?”

About the Authors
This article is a human capital and development article that is written by three authors. These authors include Sherry Merkur, Franco Sassi, and David McDaid. Sherry works in the European Observatory on Health Systems and Policies and LSE Health in London. The author is also in School of Economics and Political Science based in the United Kingdom. Franco works in Paris, France at the Organization for Economic Co-operation and Development. Finally, McDaid works in the Europe Observatory on Health Systems and Policies and Personal Social Services Research Unit (PSSRU) and LSE Health and Social Care. He is based in United Kingdom, London School of Economics and Political Science.

The main point of the article and its relation to the economics in developing areas

The article emphasizes the preventive actions that can be invested efficiently to protect and promote the population health. The article addresses some of the common risk factors of health such as alcohol and tobacco consumption, exposure to environmental hazards, and risk to well-being and mental health among other risks. From the economic perspective, the article highlights several disease prevention and cost-effective health promotion interventions. The interventions are anticipated to produce health benefits at affordable cost hence promoting the health sector (Merkur et. al 21-22). The main actions that can be used to mitigate these health risks include the use of tax to discourage consumption of unhealthy items such as alcohol and tobacco. These interventions can be used to promote health and hence boost the development in the developing areas.

Relevant economic concepts

One of the economic concepts that are relevant in the article is the understanding of the cultural and social, economic factors. This can help in reducing the social injustices and inequalities in the health sector. Another economic policy in the article outlines that health affects disparities in the labor market in terms of wages and employment opportunity. Consequently, this reduces productivity and so the development (Merkur et.al 22).

Work cited

Merkur, Sherry, Franco Sassi, and David McDaid. Promoting health, preventing disease: is there an economic case? Copenhagen Ø, Denmark: World Health Organization, 2013. http://www.euro.who.int/pubrequest. Web. 5 Feb. 2015. <http://www.euro.who.int/__data/assets/pdf_file/0004/235966/e96956.pdf>.
Human Capital and Development (Popular Press)
“Creative destruction: A cost crisis, changing labor markets and new technology will turn an old institution on its head.”
About the Author(s)
The article does not have an author, but it is published from the Leaders in the Print Edition Column of The Economist.
The main point of the article and its relation to the economics in developing areas
The article provides an insight of the education revolution that is stimulated by the changing demand in the labor market, rising costs, and disruptive technology. The article illustrates that the revolution has to be accompanied by the “reinvention of the University.” According to the article, the cost of education has been increasing while cost of other goods such as computers and cars has fallen significantly. Additionally, the change of labor market and technological advancement has increased the demand for education revolution such as off-campus school. This move is significant in developing areas because it will help to meet the demand in the labor market and adapt to changes in technological advancement.
The main point of the article and its relation to the economics in developing areas
In order to understand this article, a reader needs to understand economic concepts such as labor markets, cost of public goods, demand concept, inflation adjustment, and development. This article has connected these concepts with the education to illustrate the need for education revolution.
Works Cited
Print Edition, Leaders. "Creative destruction: A cost crisis, changing labor markets and new technology will turn an old institution on its head." The Economist [London] 28 Jan. 2014: n. pag. Web. <http://www.economist.com/news/leaders/21605906-cost-crisis-changing-labour-markets-and-new-technology-will-turn-old-institution-its>.
Human Capital and Development (Peer-Reviewed Journal)
“The role of education in economic development: a theoretical perspective”
About the Authors
Doctor Ilhan Ozturk is a professor at the Cag University. He is proficient in fields such as International Economics, Foreign Direct Investment, Energy Economics, and Exchange Rates. Ozturk has more than 70 published articles in the international journals and has made several appearances in the international conferences.
The main point of the article and its relation to the economics in developing areas
The article provides an insight on how the education is important human capital element for achieving economic development. The education enlightens and empowers the individuals so that they can understand themselves as well as the world. Consequently, the education contributes to different benefits such as high-quality lives and extended social benefits to the society and individual. For this reason, from the economic perspective, education enables people to be creative and productive and enhance entrepreneurship as well as the technological advancement (Ozturk 6). Additionally, the education improves the economy by promoting the income distribution in the developing areas.
Relevant economic concepts
There are various economic concepts in the article that requires the reader understand. These concepts include labor productivity, economic growth, income distribution, development, and trade. The article considers education as a core factor in that influences these economic concepts. Education promotes the development that consequently promotes social and economic wellbeing and increases social consistency and economic efficiency (Ozturk 2). Education also improves efficiency and value of labor and hence income distribution. Therefore, a reader should be well versed in these economic concept in order to capture the precise significant of education.
Works Cited
Ozturk, Ilhan. "The Role of Education in Economic Development: a Theoretical Perspective." Journal of Rural Development and Administration 33.1 (2001): 39-47. ttp://mpra.ub.uni-muenchen.de/9023/. Web. 5 Feb. 2015. <http://mpra.ub.uni-muenchen.de/9023/1/THE_ROLE_OF_EDUCATION_IN_ECONOMIC_DEVELOPMENT.pdf>.