On human capital characters of the party and government leaders.

In the era of knowledge-based economy, human capital has become the primary resource in our society. The party and government leaders are key human capital in economic development. However, what is the value of the party and government leaders in economic development? Are they as important as or even more important than the entrepreneurs? Very few studies have covered these points. This paper aims at providing answers to the above questions by analyzing the human capital of the party and government leaders. This paper mainly illustrates nine features of the human capital in the party and government: the high level, the measurement by public effect, "entrepreneurs" in managing public resources, the key of human capital, the logical precondition of other human capital, the scarcity, the irreversibility, the asymmetry, and the diversification. It concludes that party and government leaders are a special human capital, which differs from both the ordinary human capital and the entrepreneurs in the private sectors. Therefore, more attention should be paid to the selection of the party and government leaders and the rewards corresponding to their contributions to public benefits. (JEL H00)

MINGZHENG XIAO

Peking University--China