Human capital theory holds that education is not only a kind of consumption, but also an investment, right?
That's right. The theory of human capital originated from economic research. In 1960s, American economists Schultz and Becker founded the theory of human capital, and put forward that the core of human capital is to improve the quality of population, with special emphasis on the role of education investment. They believe that education is not only a consumption activity, but also an investment activity. Therefore, human capital theory holds that education is not only a kind of consumption, but also an investment pair. The theory of human capital opens up a new way to think about human productivity.