FROM POVERTY TO POWER
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Why ‘Human Capital’ is an abomination
February 26, 2010
I’ve always felt uneasy with using the term ‘human capital’ as a synonym for ‘people’. In this month’s issue of the consistently excellent Prospect magazine, philosopher Edward Skidelsky beautifully nails the arguments: ‘Economists, said John Maynard Keynes, should think of themselves as humble specialists, on a par with dentists. But his advice has gone unheeded. Over the past 50 years,
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