In this book, the role of human capital as the basis of economic and social development is examined through a comprehensive literature survey and critical analysis in conjunction with its interplay with social capital. The objectives of this study were to: (1) examine the knowledge economy and society concepts as a platform of sustainable development (economic, environment, human, and social development) with recent examples; (2) understand the building blocks of human and social capital, and their impact on knowledge society, sustainable development, and public welfare; (3) identify the roles, mechanisms and development of a policy framework for education, science, technology, and innovation (ESTI) system towards development of human and social capital within the context of Turkey and its regional, national and societal needs as well as culture and history.