Re: human capital again

[paul phillips <phillipsp@xxxxxxx>]

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
investment  of (labour) resources in creating something of productive (
and productive is the operative word) value.
    Human capital is something quite different.  Humans invest in
buying  knowledge, produced by labour, which increases their
productivity at a later date.  In that sense, human capital is a form of
'dead labour' equivalent to  physical capital.  None of these others are
'real' investment in 'dead labour' and hence, are not capital in the
sense we use the term.

Paul Phillips


Michael Perelman wrote:

> 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 Perelman
> Economics Department
> California State University
> Chico, CA 95929
>
> Tel. 530-898-5321
> E-Mail michael at ecst.csuchico.edu