Answer: Human capital and human development may sound similar but there are differences between them. Human capital considers education and health as a means to increase labour productivity. Human development is based on idea that education and health are integral to human well being because only when the people have ability to read and write and can live a healthy and longer life, they will be in a better position to make choices. Human capital considers human beings as a means to an end. In this case, improved productivity is the end. Human development considers human beings as an end. From the perspective of human capital, if investment in education and health does not result in improved productivity then that investment is unproductive. Human development considers investment in health and education should be increased even if it does not result in apparent productivity.
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