Fix, ‘The Rise of Human Capital Theory’
March 29, 2021
Today, human capital theory dominates the study of personal income. But this has not always been so. In this essay, I chart the rise of human capital theory, and compare it to the rise (and fall) of eugenics. The comparison, I argue, is an apt one. Eugenics and human capital theory both focus on isolated traits of individuals. By doing so, both theories neglect the social nature of human behavior.
The Rise of Human Capital Theory
Fix, Blair. (2021). Real-World Economics Review. No. 95. March. pp. 29-4