Hybridity

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Though human capital is a theory developed by economists, it has made its way into both education and mainstream literature. Human capital can be defined as "the education, job training, and health embodied in workers, which increase their productivity."

[i] Theodore Schultz and Gary Becker first founded the theory in the early 1960's . Becker states , " economists regard expenditures on education, training, medical care, and so on as investments in human capital. They are called human capital because people cannot be separated from their knowledge, skills, health, or values in the way they can be separated from their financial and physical assets. Education and training are the most important investments in human capital."

[ii] Becker describes human capital as a significant factor to economic growth. Though many organizations such as UNESCO and OECD have slightly different takes on human capital, Becker's description allows us to hear the theory described from the theorist himself. Viewing humans as the possessors of capital suggests that human's main purpose in an economy is in the production of economic goods. Relating humans to capital has many connotations, one being that humans have nothing more to offer to the economy than what the economist can quantify as capital. The theory is also problematic in the eyes of feminists. Blackmore writes, "human capital theory is premised upon the self-maximizing, autonomous, individual chooser and upon national productivity measures. These ignore child-rearing responsibilities, domestics labor, and the contribution of voluntary labor to national productivity."

[iii] Human capital theory has enabled economists to explain how they feel education works in the economy. However, the economists' defined role of education has become so popular many find human capital development the driving force for education -examples World Bank, OECD.

 

References
[i] Salvatore, Dominick. International Economics 8 th Ed. Hobokin, NJ: John Wiley & Sons, 2002. p. 800.

[ii] Becker, Gary S. (2002) Human Capital, The Concise Encyclopedia of Economics. <http://www.econlib.org/library/Enc/HumanCapital.html> (14 August 2004). [Online].

[iii] Blackmore, Jill , "Globalization: A Useful Concept for Feminists Rethinking Theory and Strategies in Education," in Globalization and Education Critical Perspective , ed. Nicholas C. Burbules and Carlos A. Torres (New York: Routledge, 2000), 144.

 

Contributed by David Rutkowski