Human Capital

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Human Capital
-What is Human Capital?
-Settlement patterns
Human Capital as a Labor force -Character of
labor force - Dual Labor Market
Building Human Capital -Rural Schools -Poverty -He
alth
Images from http//www.chillicothecity.org/index.h
tml
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Human Capital
What is Human Capital?

• Gary Becker and other economist
• Education and training are most important

• Human capital is also
• -Personal attributes

Images from http//www.chillicothecity.org/index.h
tml/schools
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Core Concepts

• Human Capital
• Skills
• Transferable knowledge
• Workforce development
• Training

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Mobility

• The underlying concept of human capital is the
  new economy
• The core concept of the new economy is the
  mobility of labor
• Labor is now available in place such as a plant
  that produces disc drives in Malaysia
• Partial assembly of your computer in Mexico

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Other forms of Human Capital

• Intellectual capital/property
• IF social capital is high (bonding) then it is
  assumed that other forms of human capital, such
  as individualized training is also high
• The components of human capital
• People Process Technology

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Relationships

• Hotspot communities rate very high in human
  capital
• Labor, training and education are very
  competitive in these community
• Does a dying or stagnant community repel high
  degrees of human capital?

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Classical Theory

• In classic economic theory skilled labor seeks
  opportunities in place of high wages, workforce
  development opportunities, and high technology
• High performance communities in both the private
  and public sectors recognize that an
  organizations people largely determine its
  capacity to perform. These organizations
  understand that the value of the organization is
  dependent on the value of its people.

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Greatest Human Asset

• The greatest human capital asset is leadership
• Leadership is either learned, earned or natural.

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7 Core Leadership Characteristics

• Focus on community and self development
• Initiates Implements change
• Fosters a community centered culture, understands
  civic life
• Builds networks and partnerships
• Able to indentify priorities and hold self
  accountable has a clear mission

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Characteristics Continued

• Provides an environment to motivate people
• Is politically and organizationally aware

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Patterns of Settlement
-Railroad key to settlement patterns in the
Midwest
Images from http//www.chillicothecity.org/transpo
rtation.html
-Chillicothe agriculture town, kept going via the
railroad from Hannibal, Mo
Images from http//www.chillicothecity.org/where.h
tml
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Character of Labor Force
High school or higher 79.1 Bachelor's degree or
higher 13.3 Graduate or professional degree
3.9 Unemployed 3.4
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Character of Labor Force
Age and Gender
http//www.city-data.com/housing/houses-Chillicoth
e-Missouri.html
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Character of Labor Force
Travel Times Less than 5 minutes 376 5 to 9
minutes 1576 10 to 14 minutes 943 15 to 19
minutes 212 20 to 24 minutes 90 25 to 29
minutes 34 30 to 34 minutes 177 35 to 39
minutes 16 40 to 44 minutes 65 45 to 59
minutes 65 60 to 89 minutes 59 90 or more
minutes 74
http//www.city-data.com/housing/houses-Chillicoth
e-Missouri.html
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Dual Labor Market
Two Markets -Primary Skilled Workers -Secondar
y low status, low pay, poor benifits
Kevin Kroen Photographer
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Dual Labor Market
Chillicothe
-Majority of the labor is secondary ,based on
wages alone ¼ of Rural wages and
salaried Workforce 25 or older had low wages
http//www.city-data.com/housing/houses-Chillicoth
e-Missouri.html
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Building Human Capital
Rural Schools
-With good education usually have a export of
educated people. Chillicothe maybe able to blame
there drop of population to this.
-Chillicothe High School -Grand River Tech.
School -Chillicothe Middle School -Dentral
Accelerated Elementary School -Field Elementary
School -Dewey Elementary School -Garrison
Elementary School -Bishop Hogan Memorial School
-North Central Missouri College
J. Keller, Powerpoint
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Building Human Capital
Poverty

• - Lack of Education
• Fewer opportunities

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Building Human Capital
Health
- Rural America is more likely to do unhealthy
things.
http//www.asturplaza.com/imagesgrandes/taberna.jp
g
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Conclusion
What should have learned?
Human Capital Character of labor force Dual Labor
Market Rural Schools Poverty Health
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References
http//www.city-data.com/city/Chillicothe-Missouri
.html
http//www.chillicothecity.org/history.html