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The article critically examines Human Capital Theory from its inception to contemporary critiques.

April 12, 2026Open Access

The Human Capital Fallacy

Key Points

The article critically examines Human Capital Theory from its inception to contemporary critiques.
Conducted a bibliographic review of key theorists like Schultz, Mincer, and Becker.
Analyzed counter-evidence presented by theorists such as Bowles and Gintis.
Applied critical social theory and pedagogy to frame the investigation.
Identified epistemological weaknesses in Human Capital Theory.
Highlighted inconsistencies between its theoretical claims and empirical data.
Emphasized the importance of viewing humanity from an individual to social perspective.

Abstract

ENGLISH ABSTRACT - RESUMEN EN ESPAÑOL - RESUMO EM PORTUGUÊS ABSTRACT The article focuses on Human Capital Theory (HCT) developed in the 1960s. Based on a bibliographic review of the works of Schultz, Mincer, and Becker, precursors of HCT, as well as the works of Bowles, Gintis, and others who produced evidence contradicting its premises, a critical analysis was developed. This analysis highlights both the epistemological weakness in the construction of HCT and the inconsistencies in its theses and empirical data. The theoretical framework guiding this investigation, providing it with a specific perspective, is the field delimited by critical social theory, critical pedagogy, and sustainable social development. The philosophical foundation of this critical analysis is the understanding of humanity as a movement from the individual being toward the social being, asserting that this is the only possible horizon for civilizational evolution.

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