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Human Capital Theory

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Please help me with the following problem.

I need help to support the claim that human capital theory fails to explain the relationship between skills and the economy.

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The following posting helps support the claim that human capital theory explains the relationship between skills and the economy. References are included in the solution.

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You probably already know that I cannot do the work for you, but I might be able to "kick start" your brain to put out a good answer.

Human Capital Theory (HCT), as you also probably know, makes a clear connection between public and private investment in skills education and (later) increases in both personal income and production.

Learning on the job does cost - but HCT holds that it will pay better dividends later.

The greater the investment in HR (and training programs in general), the better the "fit" between jobs and the population at large.

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