SHOT. . .
Rep. Alexandria Ocasio-Cortez, who majored in Economics in college, called out White House economic adviser Kevin Hassett for using the term “human capital stock” while talking about re-opening the U.S. economy.
According to the Economics major, this is “an ugly term with ugly history, but for many power ppl it’s the most honest view of workers: human stock”:
Human Capital Stock.
An ugly term w ugly history, but for many powerful ppl it‘s their most honest view of workers: human stock.
By their logic, the moment a person stops being useful to profit motive (retirement, health, etc) they are a liability. That’s the system we live in. https://t.co/ZihhtaI00W
— Alexandria Ocasio-Cortez (@AOC) May 26, 2020
CHASER. . .
Maybe she missed this day in one of her Econ classes? It’s a common term, and everyone knows it’s a common term:
This is a completely ridiculous attack on Kevin Hassett. It is baseless.
Professional economists know that this attack is nonsense.
Here are the NBER papers that use the phrase "human capital stock" in the last 5 yrs: https://t.co/f8DJr7Vfy7
It's a standard term in economics. https://t.co/eS8a0011hd
— Michael R. Strain (@MichaelRStrain) May 26, 2020
LET’S KEEP DRINKING, SHALL WE? Who wants to tell her about the Obama administration using this term?
2016: "Net Investment and Stocks of Human Capital in the United States, 1975-2013", Obama administration Bureau of Economic Analysis paper.
"Activities that add to this stock, such as education…are valued at the extent to which they increase the human capital stock." pic.twitter.com/Tlv0Swdubc
— jerylbier (@JerylBier) May 26, 2020