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

Such policy activism would be supported by a state apparatus geared to its design and implementation, populated with suitably competent civil servants "smarter than the smartest captains of industry" (p. 192). Ultimately, what is prescribed demands of the state and those working within it a much more engaged and strategic role that does not simply correct market failure, but anticipates it by acknowledging markets' limitations. The authors put forward their recommendations within in a comprehensively reconstructed policy framework that rejects the simplistic and demonstrably wrong equation of learning with earning that lies at the heart of human capital theory and the policies it has inspired. [Extracted from the article]