AOC says one of economists’ favorite phrases is racist. It’s not. It’s just nonsensical.
as well: In his poem “The Age of Bronze,” Lord Byron describes a horde of Russian serfs as “a human capital / a live estate.”
But for the most part, the thread between human capital as we understand it today and legal servitude is attenuated at best. When writers wanted to actually talk about the financial aspects of slavery, they had a specific term for that:These days, meanwhile, the idea of education as an investment in human capital has become so deeply embedded in the way Americans talk about economics and the value of college that most of the icky associations Schultz worried about have melted away.
If we cared half as much about the wealth we could generate by investing in human capital as much as we cared about real estate speculation, we’d have tuition-free college by now.With all of that said, there are plenty of good reasons to take issue with the language of “human capital.
For these reasons , the past few years have seen a little rebellion against the idea of human capital from the left. Thomas Piketty pointedly refused to include human capital in his measurement of wealth in his book
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