ABSTRACT
The quantitative dimension of a nation’s human resources are transmitted to the economy through its population by means of participation in the labor force. Increasingly, policy-makers in industrialized nations have realized that the human resource development of their labor forces is the key to efforts to address difficult issues as efficiency, equity, stablilization, and growth. The idea that human resources are a nation’s most important asset is no mere political cliche. It is a fact of economic life that deserves prominence in policy formulation. As for economic policy, the administration fell back upon conventional macroeconomics as embodied by a series of massive tax cuts plus pursuit of a more competitive domestic environment to resolve employment problems. One pertains to the quantitative dimensions, which are concerned with the aggregate amount of human resources that are actually available and utilized to produce the nation’s goods and services.
