chapter  15
7 Pages

HUMAN CAPITAL IN BOLIVIA

The reason is simple. Human capital is a factor which is at least as important to the process of economic development as are capital goods to production. Furthermore, including development plans that centre upon requirements of capital goods for production, it is necessary to implement them with explicit programmes on the volume and necessary proportion of labour by sectors, regions, occupations, and educational levels. This is done to achieve the objectives of the plan, and consequently, it is equally imperative to make forecasts as rigorous as possible as regards financial resources for the adequate and opportune formation of the necessary labour. But to the purely economic viewpoint needs to be added the social character of development planning. In fact, a policy of development which is not at the service of full employment or at least at a satisfactory employment level, not only contradicts the human objectives of the entire process of development, but at the same time will generate grave tensions, which in time will be translated into insurmountable obstacles for this same process of development.