Decreasing per capita human capital growth in 166 countries from 1990 to 2020

Abstract Human capital is widely acknowledged as an inclusive resource that encompasses the knowledge and expertise of citizens, which propels economic development. This research integrates education data with demographic, health, and socioeconomic factors to construct a cross-country human capital monetary accounting framework. We evaluate the levels of educational attainment and the total adult population by stage of life expectancy. Subsequently, we assess education returns based on lifetime income and educational attainment. This accounting tracks the level and changes of human capital in 166 countries from 1990 to 2020, providing multiple indicators to measure human capital for sustainability. The primary findings indicate that globally, the growth trajectory of human capital has declined over the past decade, suggesting a threshold for human capital growth under current investment levels. Based on these findings, it is recommended that policymakers consider this shift and align long-term human capital investment with sustainable growth paths.