The phrase "human capital formation" is correct and usable in written English.
You can use the term when referring to the process of increasing the skills and knowledge of a population to increase economic growth. For example, "The government has put a lot of money into human capital formation, such as subsidizing university tuition, in the hopes of spurring economic growth."
When successful, it has historically engaged with an active private sector organisations, both start-ups investing in niche new areas and larger companies investing through human capital formation and R&D laboratories – all playing their part.
And we have an ultra-financialized private sector, often spending more on areas like share buybacks to boost stock options and executive pay) than on R&D and human capital formation.
Many of these make good sense: the argument that governments should not underinvest in R&D and human capital formation (p 196) is wise, especially (as Mazzucato points out) in the context of ongoing Eurozone austerity.
Most macro and micro economists will agree that spending in key areas like education, human capital formation, skills, research and development (public and private), as well as health care, are key to future growth in the long run.
Other research suggests there are some offsetting benefits to workers of all skill levels in countries experiencing emigration; high rates of emigration of skilled workers tend to encourage "human capital formation"—or education and training in the country of origin, for instance.
Thus, welfare experts represent expertise in social capital formation, economic capital formation and human capital formation.
In the early years, everybody equated human capital and skill formation with the school system.
The main channels through which maternal deaths affect macroeconomic output include increased health expenditure, labour and productivity losses and reduced investment in human and physical capital formation [ 11].
They increase health expenditure, cause attrition of future labour and productivity, and erode investments in human and physical capital formation [ 32].
Moreover, the funds for the formation of advance human capital have been historically low.
