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The Death of Human Capital? Its Failed Promise and How to Renew It in an Age of Disruption

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Abstract

Human capital theory, or the notion that there is a direct relationship between educational investment and individual and national prosperity, has dominated public policy on education and labor for the past fifty years. In The Death of Human Capital?, Phillip Brown, Hugh Lauder, and Sin Yi Cheung argue that the human capital story is one of false promise: investing in learning isn’t the road to higher earnings and national prosperity. Rather than abandoning human capital theory, however, the authors redefine human capital in an age of smart machines.
New From Oxford
Human capital theory, or the notion that
there is a direct relationship between
educational investment and individual and
national prosperity, has dominated public policy
on education and labor for the past y years. In
e Death of Human Capital?, Phillip Brown, Hugh
Lauder, and Sin Yi Cheung argue that the human
capital story is one of false promise: investing
in learning isn’t the road to higher earnings and
national prosperity. Rather than abandoning
human capital theory, however, the authors redene
human capital in an age of smart machines.
Features
Demonstrates that the human capital story
is one of a failed revolution that requires an
alternative approach to education, jobs and
income inequalities
Redenes human capital in a way that more
accurately addresses today’s challenges presented
by global competition, new technologies,
economic inequalities, and national debt
Rejects and challenges the conventional wisdom
that there is an automatic association between
learning and earning
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Phillip Brown, Research Professor in the School of Social
Sciences, Cardi University
Hugh Lauder, Professor of Education and Political
Economy, University of Bath
Sin Yi Cheung, Professor of Sociology at the School of
Social Sciences, Cardi University
The Death of Human Capital?
I F P  H  R
I   A  D
Phillip Brown, Hugh Lauder, Sin Yi Cheung
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Chapter
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