In modern day economics, the uniqueness of labour as a factor of production is a subject of reason. Economic and development strategists lay more emphasis on this variable factor because of it relevance in production processes. To clarify, both labour and capital intensive techniques requires the involvement of labourers. Operation of machines, planning of manufacturing sessions and lot more are carried out by this class of individuals. Meanwhile, human capital development has to do with making labour more efficient.
For a more clearer picture, human capital development is an economic activity which involves procreating human capital. Workers learn skills and competencies necessary for organizational growth and trade network. However, the concept does not negate the acquisition of formal education. It boldly supports the use of mental tactics and on-the-job trainings for business development. Employees and human resources team of new-day firms should provide ideal environment for the achievement of this feat. Likewise, handsome wages and payment standards also complements the principle of manpower development. If this fails, occupational mobility appears as the best option for workmen off the factor market.
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On the other hand, mechanized farming involves usage of technological implements over large pieces of land. It is purely capital intensive. As a result, farm outputs are massive because they undergo inorganic growth patterns. Animal production also witnesses technological advancement, which is evident in the sizes of the farm animals.
In mechanized farming, usage of machines in the production processes is better off than huge labour utilization. There’s an indication that the less-numbered working hands under this premise get ardent training. This is to ensure that they handle farm projects with some levels of punditry. Similarly, it will help them to perfect their skills and tactically work with time limits.
Human capital development is characterized by experience, education, training and health. Mechanized farming, in most cases, creates a platform for all the aforementioned. This makes it the best system of agriculture.
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