The absurdity of Human Capital Theory

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Bath's Hugh Lauder is an international authority on the death of Human Capital Theory as a workable, or now even coherent, economic theory. In truth, it's a political and administrative convenience gone way beyond its explanatory power. Yet national and international bodies find it indispensable in respect of justifying their budgets. So it's visited back upon us in the UK, US and elsewhere as a meaningful scholarly idea. Why? Because it looks scientific; big UN bodies and NGOs have built it into their long-term assumptions - and people are sort of OK spending their tax pounds/dollars on it. From 2016 here's a classc Fresh Ed episode which remains entirely up to scratch and date right now. Perhaps that means no-one cares, but there it is.



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