Human Capital and Income Distribution Mechanism

Author: Qin Xingfang
Publisher:
Publish Date: 2003-12-01
Features: The obvious innovation and feature of this book is the introduction of human capital theory. Based on Marx's labor value theory, it fully affirms the role of human capital in wealth and value creation. Taking this as the main thread, the book studies the mechanism design centered on human capital in various factor distribution methods, including the remuneration of laborer human capital, the remuneration of technical personnel human capital, and the remuneration of entrepreneur human capital, which has obvious innovative value. In modern economic analysis, the new growth theory, as a pioneer of new economic theory, distinguishes capital into knowledge capital, human capital, and physical capital. The core content of the endogenous technological progress theory elaborated by the new growth theory is the spillover effect of knowledge capital and human capital. The main explanatory factors of modern economic growth are knowledge capital and human capital, rather than physical capital. Practice has proven that the rate of increase and the ability to increase in knowledge capital and human capital are faster and stronger than those in physical capital. Capital appreciation is more the result of the effect of knowledge capital and human capital than the self-replication of capital. Therefore, the capital accumulation discussed now should more highlight the accumulation of knowledge capital and human capital. The obvious innovation and feature of this book is the introduction of human capital theory. Based on Marx's labor value theory, it fully affirms the role of human capital in wealth and value creation. Taking this as the main thread, the book studies the mechanism design centered on human capital in various factor distribution methods, including the remuneration of laborer human capital, the remuneration of technical personnel human capital, and the remuneration of entrepreneur human capital, which has obvious innovative value. In modern economic analysis, the new growth theory, as a pioneer of new economic theory, distinguishes capital into knowledge capital, human capital, and physical capital. The core content of the endogenous technological progress theory elaborated by the new growth theory is the spillover effect of knowledge capital and human capital. The main explanatory factors of modern economic growth are knowledge capital and human capital, rather than physical capital. Practice has proven that the rate of increase and the ability to increase in knowledge capital and human capital are faster and stronger than those in physical capital. Capital appreciation is more the result of the effect of knowledge capital and human capital than the self-replication of capital. Therefore, the capital accumulation discussed now should more highlight the accumulation of knowledge capital and human capital. Various factor distribution systems have incentive effects, but this is conditional. In addition to addressing the shortcomings of the distribution system itself, from a micro perspective, this requires the marketization, capitalization, or equity of factors, and more importantly, the scientific design of distribution mechanisms to overcome adverse selection and moral hazard brought by information asymmetry in the distribution process, thereby incentivizing people to invest more in human capital, incentivizing laborers to engage in more effective labor, incentivizing technical personnel to engage in technological innovation activities, and incentivizing managers to become entrepreneurs. This is the main research content of this book.