Human Capital Theory

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A Theory is a set of interrelated concepts used to describe, explain, and predict how society and its parts are related to each other. Consensus theory emphasizes that not all existing social structures of society are functional for the society. Some are dysfunctional (Robert Merton). Human capital theory emphasizes that education is not to be viewed simply as a form of consumption but rather as a productive investment (Theodore Schultz, 1961). This text will explore the relevance of the consensus/equilibrium theory and the human capital theory to nursing students. The human capital theory recognizes that the most important resource a nation can ever have is its people. Even if infrastructure and capital is provided, without the development of human resource no meaningful development can take place. Investment in Human Capital has economic and social benefits. Most of the social and economic problems of Zambia are sometimes blamed on the undeveloped education system. Some of the cross-cutting themes and issues such as population issues; environmental, HIV / AIDS, Democracy and governance, nutrition and poverty are off shoots of the undeveloped education system in Zambia. A continued investment and support of nurse training will help the country to improve on the health of its population. This will in turn yield economic benefits as productivity of a healthy workforce improves by reducing staff turnover. Research findings have suggested that hospitals with higher human capital have better quality of patient care and less adverse events. Human capital within hospitals is extremely important as it reflects the work of highly knowledgeable and skilled people caring for those in need of specialized healthcare (Peng. et al" 2007). Nursing human capital is the knowledge, skills, and experience of nurses (McGillis

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