Final answer:
Human resources development requires significant investment in education and training to create a skilled workforce, which is vital for economic growth. This involves thoughtful public policies and government investment in human capital, which can lead to increased productivity and improved economic conditions.
Step-by-step explanation:
To develop human resources, a nation should invest in human capital, technology, and physical plant and equipment. This involves creating a stable and market-oriented economic climate. An integral step is the public investment in education, as a highly educated and skilled workforce is crucial for economic growth. For low-income nations, increasing investment in human capital is likely to boost productivity and growth. Additionally, improving human capital encompasses upgrading health, skills, or knowledge of the workforce through policies, education, and programs like apprenticeships.
Another key factor is the distribution of the workforce and how it influences a nation's development level. In the process of economic transition, the government's role in society's investment in human capital is pivotal. Bureaucracies need to make thoughtful investments in human capital and continue to train and develop their workforce to fully benefit from their initial hiring investments. Indeed, the long-term implications of these actions can either encourage or hinder economic development.