a definition of human capital, despite its humanistic connotations, does not move beyond economism and ignores, inter alia, the fact that the scholastic yield from educational action depends on the cultural capital previously invested by the family.
The reader should not be misled by the somewhat peremptory air which the effort at axiomization may give to my argument.
And the structure of the distribution of the different types and subtypes of capital at a given moment in time represents the immanent structure of the social world
Capital is accumulated labor (in its materialized form or its "incorporated," embodied form) which, when appropriated on a private, i.e., exclusive, basis by agents or groups of agents, enables them to appropriate social energy in the form of reified or living labor.
In Donald MacKenzie's study on the financial turn of economics, he highlights
the role of the self-fulfilling prophecy (positive feedback) of mathematical models
upon reality, through the example of the Black-Scholes-Merton model. At first
the correspondence between the model and actual prices w…
