This paper aims to contribute to the new growth theory with a model in which the engine of growth is human capital growth. Building on Romer’s [1990] model, two new functions are introduced: (1) A speci…cation for the production of new designs that assumes no externalities and no inventions before time zero; and (2) A speci…cation for the accumulation of human capital technically similar to that in Lucas [1988]. As opposed to Romer’s model, the scale-e¤ects prediction is eliminated because technological growth does not depend on the number of researchers, but instead on the rate of growth of human capital. Moreover, the model introduced carries a new prediction: Growth depends positively on the ratio of …nal-good workers to researchers.