Year 2014, Issue 124

Date published

30.12.2014

Table of content

  • Penka Shishmanova
    GENESIS AND EVOLUTION OF HUMAN CAPITAL THEORY FROM ANCIENT TIMES TILL THE END OF CLASSICISM
    Keywords: -
    Summary: 198 ABSTRACT The present study explores the origin and development of human capital theory from ancient times till the end of classicism. For this purpose, four stages of the evolution of scientific ideas and views in this direction are differentiated chronologically: Ancient period, Middle Ages, Renaissance and Classicism. A ... ... CONTENTS INTRODUCTION 9 Part One Origin of human capital theory 19 1. Background of the human capital theory 19 1.1. Ancient Near Eastern societies 21 1.2. Classical antiquity 31 2. The theological aspect in the views of man as an economic entity in the Middle Ages 41 2.1. St. Augustine 44 2.2. St. Thomas Aquinas 51 3. Strengthening of the economic role of man in the Renaissance 58 3.1. Erasmus of Rotterdam 60 3.2. Thomas More 64 3.3. Tommaso Campanella 70 Part Two The classical tradition in human capital theory 80 1. The ideas of W. Petty – fragments of the concept and the first systematic attempt for human capital assessment 81 2. The contribution of Adam Smith to human capital theory with a focus on education 95 3. Knowledge and entrepreneurship – the basic milestones of human capital theory in the views of J. B. Say 111 4. Human abilities and their development through education as the basis of wealth in the views of John St. Mill 122 5. Human capital theory through the eyes of B. Franklin, J. H. von Thünen, J. R. McCulloch 139 6. The subjection of man to capital in the ideas of Karl Marx 156 Conclusion 184 Appendix 188 References 190 Abstract 198 ABSTRACT The present study explores the origin and development of human capital theory from ancient times till the end of classicism. For this purpose, four stages of the evolution of scientific ideas and views in this direction are differentiated chronologically: Ancient period, Middle Ages, Renaissance and Classicism. At each of these stages there is an attempt to prove that man with his knowledge, creative ideas and productive capabilities underlies the economic progress and development of society. The first part of the study summarizes the contribution of ancient Near Eastern societies and peoples of Ancient Greece and Ancient Rome to human capital theory. Its origins are found in several major formulations related to the role of family, upbringing, education and work for human development; the emphasis on health and social responsibility of ancient societies as well as the first attempts to measure and evaluate human capital. The second part presents the main classical views on this issue, which scientifically build and develop the forerunners’ ideas. Apart from the aspects of human capital theory examined by the ancient philosophers, the classicists focus on personal and professional qualities of the individual, the investment in human capital, the role of the state and the other institutions for its formation and development. In terms of the respective historical periods classical concepts evolve from identifying human capabilities with capital through the idea of man himself as capital to Marx’s view on antagonism and the subjection of man to capital.