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And finance Allah shmoop What is human capital Oh well

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for firms or companies or businesses you know Capitol the

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material stuff that financial investors or capital issues You know

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in the long run to make a factors of production

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In order to make money like that tractor smelting factory

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or buying a whole bunch of property Teo grow lucky

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charms on and then sell them in boxes for a

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big profit right It's patents and all that kind of

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stuff That's just capital that's non human capital The missing

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ingredient to this capital pie Yes human capital That's what

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we're talking about here Somebody's got to tell these machines

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what to dio for now at least until a I

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and robots replace us well Human capital is the value

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that workers can bring to their employers It's the economic

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value potential a worker has given all their knowledge their

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experience and their particular skill set above and beyond what

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a machine could do to replace him for free Well

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different jobs require different kinds of human capital Restaurant servers

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need to be able to hold inordinate amounts of plates

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on their arms while you know putting on a smile

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Data analyst need to know lots about math and know

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how to use spreadsheets and interpret all this weird stuff

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Are these numbers construction workers need to know howto work

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the equipment pour concrete and whistle crudely yet well hot

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looking people passing by the site Middle school teachers need

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to be part teacher part baby sitter and particle disciplinarians

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depending on which ones you asked Everyone who has a

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job is in some way using their human capital which

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contributes to their employer into the economy as a whole

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Human capital isn't fixed not as in it was broken

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With Mohr Education comes more human capital right If people

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are underemployed meaning there overqualified for the job it means

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there's human capital being left on the table unused like

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a phD being a sex worker something like that Or

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for instance a train JJ neuroscientist who's working as a

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sandwich artist at subway well has a lot of human

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capital that's not being utilized resulting in a loss of

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value for the economy Albeit Cem expertly assembled tuna wraps

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Well the interesting thing about human capital is well how

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it relates to technology It's a frenemy like friend and

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enemy As our human capitals grown as a society so

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too has our technology and certainly our capability of deploying

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it Advanced human capital has allowed us to create all

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kinds of crazy advanced tech And yet now technology is

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beginning to replace the need for human capital from flipping

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burgers and driving cars to creating music and writing news

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articles It's increasingly common that robots we've made are replacing

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the need for us their makers Human capital is being

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replaced by capitalist with technological capital which makes sense if

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they could do the job right Robots aren't late toe

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work They don't ate their bosses They don't spit on

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the food and they don't shed hair and skin all

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over the place It makes sense for the trend of

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technological capital to continue replacing human capital If the pros

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outweigh the cons right well that's problem since workers need

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human capital in orderto work Otherwise they've got nothing to

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offer the economy and they can't get a job And

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if a lot of people can't get jobs a lot

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of people won't be spending money which I would kind

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of put a damper on the economy If all else

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fails Maybe the robots will just take care of the

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problem for us How about that You know one way 00:03:18.548 --> [endTime] or another

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