Reproduction Structure and Technological Progress in Economy: The Role of Talents as Capital

Abstract

Human activities in concrete production are diversified from product manufacturing, service production to management technology. Technological progress is organized into such various human activities. This paper is written on our “Talents capital hypothesis”, after surveying the genealogy of economic thought since Smith, and, carefully examining the theoretical basis of the hypothesis. The concept “Talents capital” comprehensively captures the human activities. The hypothesis is that realistic technological progress should be based on qualitative development of "Talents capital", that is, accumulation and succession of production-related knowledge and technology, embodied in workers group (=personal owner of individual enterprises as well as employee (including corporate officer) in general enterprises)