Human Capital and Market Commodities: Higher Education’s Role in the Twenty-First Century

2020 ◽  
pp. 113-131
Author(s):  
Allison L. Palmadessa
Keyword(s):  
Human Capital ◽  
First Century ◽  
Twenty First Century

Capital and Wealth in the Twenty-First Century

2015 ◽  
Vol 105 (5) ◽  
pp. 34-37 ◽  
Author(s):  
David N. Weil
Keyword(s):  
Human Capital ◽  
Capital Stock ◽  
Market Value ◽  
Capital Gains ◽  
First Century ◽  
Discount Rates ◽  
Income Ratio ◽  
Last 300 Years ◽  
Twenty First Century ◽  
Thomas Piketty

In Capital in the Twenty-First Century, Thomas Piketty uses the market value of tradable assets to measure both productive capital and wealth. As a measure of wealth this is problematic because it ignores the value of human capital and transfer wealth, which have grown enormously over the last 300 years. Thus the constancy of the wealth/income ratio as portrayed in his data is an illusion. Further, the types of wealth that he does not measure are more equally distributed than tradable assets. The approach also incorrectly identifies capital gains due to reduced discount rates as increases in the capital stock.

scholarly journals The mismeasure of Capital: a response to McCloskey

2016 ◽  
Vol 9 (2) ◽  
pp. 145
Author(s):  
Steven Pressman
Keyword(s):  
Human Capital ◽  
Review Essay ◽  
First Century ◽  
Response Mechanism ◽  
Supply Response ◽  
Twenty First Century ◽  
Set Up ◽  
Straw Men

This paper is a response to Deirdre McCloskey's review essay, published recently in this journal, of Thomas Piketty's Capital in the twenty-first century. It argues that McCloskey has set up a number of straw men to attack. Furthermore, her three main arguments against Piketty are flawed. McCloskey wants human capital to be added to Piketty's measure of wealth; she contends that Piketty does not understand the supply-response mechanism; and she accuses Piketty of focusing on the wrong problem—inequality rather than poverty. This paper explains why these are all bad arguments.

scholarly journals Emigration from Latvia: A Brief History and Driving Forces in the Twenty-First Century

2019 ◽  
pp. 35-68 ◽  
Author(s):  
Mihails Hazans
Keyword(s):  
Human Capital ◽  
Driving Forces ◽  
Labour Force ◽  
First Century ◽  
Capital Theory ◽  
History Of ◽  
Twenty First Century ◽  
And Migration ◽  
Demographic Context ◽  
Migration Systems

Abstract In recent years, Latvia has established itself as one of the top two countries with the most intensive emigration among EU/EFTA member states. This chapter starts by describing the demographic context and the scale of emigration post-2000, followed by a brief history of the main population flows (migration, refugees and deportation) from and to Latvia in the twentieth century. It then offers a more detailed analysis of emigration during the first 15 years of the twenty-first century including a closer look at the four waves of recent emigration: (i) the pre-EU accession wave, 2000–2003; (ii) the post-accession wave, 2004–2008; (iii) the crisis-driven wave, 2009–2010; and (iv) the post-crisis wave, 2011–2016. For each wave, description of the economic and social context is given within a conceptual framework using insights from human capital theory, the new economic theory of migration, network theory and migration systems theory. Institutional factors are also emphasised. Together with some survey-based evidence, this leads to a set of hypotheses about the nature of the four emigration waves. Our own compilation of data from receiving countries (which reveals problems with Latvia’s official migration statistics) is used for documenting the dynamics of the scale and main destinations of this emigration. Empirical analysis of the changes in the reasons for and intended duration of emigration, its effects on the structure and demographic potential of the population and changes in emigrant profiles and selectivity with respect to human capital and ethnicity is based on a number of independent data sources, including the Latvian Labour Force Survey (2000–2015), the Database of Immigrants in OECD Countries (DIOC 2010/2011), and The Emigrant Communities of Latvia survey conducted worldwide in 2014.

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