An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Wednesday, January 13, 2016
Carlos Joly — Why We Should Stop Talking About ‘Human Capital’
Capital goods depreciates with age and use. Financial capital is eroded by inflation and is subject to risk.
Human learning and expertise increase with age and experience.
One of the failings of accounting is that it simply cannot deal effectively with human assets - and therefore by extension any common goods whether that is a clean environment, public ownership of intellectual property or public provision of infrastructure.
Accounting is good for the material/flesh/secular issues Neil the other things you bring in there are non-secular issues and youre right financial accounting is not the tool to use there...
One of the failings of accounting is that it simply cannot deal effectively with human assets - and therefore by extension any common goods whether that is a clean environment, public ownership of intellectual property or public provision of infrastructure.
ReplyDeleteAccounting is good for the material/flesh/secular issues Neil the other things you bring in there are non-secular issues and youre right financial accounting is not the tool to use there...
ReplyDeleteAccounting and finance are central because capitalism, the objective of which is profit. M-C-M'
ReplyDeleteIt's about the munnie.