Human Capital Theory Essay. Psychology Assignment.

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Human Capital Theory
Human capital theory shows that formal education is necessary and instrumental in improving the productivity of a specific population. In other words, it portrays that an educated population is productive. Education increases workers’ efficiency and productivity since people can innovate and address complex issues that might arise. In particular, the human capital theory suggests that there is a relationship between education, social wellbeing, and economic growth. The paper gives an overview of the human capital theory by deconstructing the High Scope Educational Research Foundation’s Perry Preschool Project (HSERFPPP).
HSERFPPP demonstrates the importance of delinquency prevention and early childhood intervention. The program has operated for about 40 years and has been successful in putting many young people out of trouble. Children undergo various transitional stages. For instance, juvenile delinquency entails committing a crime when a person is under 18 years. If juvenile delinquents are not assisted accordingly, they are likely to engage in crime again at some point in their lives (Schweinhart 147). That is the reason why the HSERFPPP was introduced to help such young people to reform and avoid committing crimes. Teens who engage in criminal activities have a high likelihood of recidivism when they become adults if they are not helped to change their behaviors.
Human capital theory depicts that some of the primary agents of change are training and education. When young people are trained or educated, they become productive since they can become employed and change their livelihoods for the better (Netcoh). Additionally, education and training occupy the mind of teenagers such that they cannot engage in criminal activities since they want to accomplish their dreams. In other terms, these young people have hopes f...