Saturday, January 15, 2011

Stocks Up But Human Capital Down?

An interesting article and Volokh analysis (by Kenneth Anderson).

The key quotation:
[F]or the first time I can remember in my adult life, we seem to be concluding that investment in human capital is not worth it. That might be true because the training is idiotic and not really “human capital investment” at all, but more like summer camp...But the much more worrying possibility is that structural problems in the US economy mean that there isn’t a need for professionally skilled labor, because the economy can’t deploy people to these higher skilled tasks.

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