Shaik Farouk2025-08-112025-08-112001https://hdl.handle.net/10566/20665The importance of human capital is unquestionable . Globalisation is forcing economies to become competitive in the rapidly expanding world market In fast growing first world economies it has been proven that the development of human skills have and still do contribute directly to higher economic growth and increased living standards . In this essay I make a very clear case for a skills development strategy, especially in South Africa. I explain firstly, the important role that "the human factor" plays in economic growth. A thorough investigation of the evolution of economic growth theories are expounded, where I emphasize the relevance of the contemporary theories. Other economic rationales and benefits for-skills development are then considered with a very analytical approach. The role of the government in worker - training is emphasized, followed by the crucial distinction between general and specific training. The success stories of other economies are contemplated with the aim of drawing important inferences from their spectacular results. South-East Asia, Germany, Japan and Singapore are all considered briefly. I then turn the focus to South Africa where an overview of the state of both the labour market and the changing pattern of economic activity are discussed . The lessons that could be learnt from the above-mentioned previous international experiences are then outlined, followed by an analytical discussion of the recently passed Skills Development Act and how its extra costs are likely to affect firms.enSkills developmentSouth AfricaEconomic growthResearch and DevelopmentEducation and TrainingThesis