It seems interest in human capital, which arose of late, has to do with ineptitude of capital and labor on their own to support empirically any growth path without receding because of diminishing returns (cobb Douglas type as of growth was a purely mechanical asocial process). So add an
Paul Phillips said:
The fact that human capital is tracked by class is not really rellevant.
Does one tract physical capital by class? Does a backhoe owned by a
working class person have less value than the backhoe owned by GW Bush?
It's not the notional class of the person which counts,
PS: I suppose it might be possible that identical twin siblings, both
proprietors of identical capitalist enterprises, one with an MBA and one
without, had differing rates of accumulation, but even then it wouldn't
necessarily be down to their respective levels of education and/or that
piece of
Message-
From: paul phillips [mailto:[EMAIL PROTECTED]
Sent: Mon 3/22/2004 9:37 PM
To: [EMAIL PROTECTED]
Cc:
Subject: Re: [PEN-L] human capital again
Michael,
I have read of 'cultural capital
paul phillips wrote:
Michael,
The fact that human capital is tracked by class is not really
rellevant. Does one tract physical capital by class? Does a backhoe
owned by a working class person have less value than the backhoe
owned by GW Bush? Only because of the social status heaped
I think some of the confusion in this thread relates to the fact that
'capital' has two meanings in the economics context. One meaning of
capital is 'stored up dead labour utilized to enhance the productivity
of living labour'; the second, 'a social relation'. Human capital in the
form of
michael perelman wrote
Paul, you are certainly familiar with the sheepskin effect -- that what
people earn with their human capital reflects much more their
credentials than their actual knowledge. A substantial literature
within conventional economics confirms this commonsense idea.
I have
112-3: They refer to a plethora of capitals -- human capital,
cultural capital, and even self-command capital..
Baron, James N. and Michael T. Hannan. 1994. The Impact of
Economics on Contemporary Sociology. Journal of Economic
Literature, 32: 3 (September): pp. 111-46.
--
Michael
Michael,
I have read of 'cultural capital' and 'political captital' which seems
to be equivalent of that obscene capitalist construction called, I
think, 'good will' which corporations can claim as wealth when they sell
out. But that is not investment in any sense in that it does not involve
Paul, I don't think that human capital is a particularly useful
concept. In the US, student are tracked according to class -- although
it is not official. Even in the absence of tracking, poor students go
to poor schools. So a GW Bush can go and get a Harvard MBA as evidence
of human capital.
Michael,
The fact that human capital is tracked by class is not really rellevant.
Does one tract physical capital by class? Does a backhoe owned by a working
class person have less value than the backhoe owned by GW Bush? Only because
of the social status heaped upon BW Bush by his
]
To: [EMAIL PROTECTED]
Sent: Tuesday, March 23, 2004 3:45 AM
Subject: [PEN-L] human capital again
112-3: They refer to a plethora of capitals -- human capital,
cultural capital, and even self-command capital..
Baron, James N. and Michael T. Hannan. 1994. The Impact of
Economics on Contemporary
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