A Quote by Paul Romer
So human capital makes ideas, and ideas help make human capital. But still, they're conceptually distinct.
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In a capitalist world, the word capital has taken on more and more uses. . . . human capital, for instance, which is what labor accumulates through education and work experience. Human capital differs from the classic kind in that you can't inherit it, and it can only be rented, not bought or sold.
The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations.
I think the money for the solutions for global poverty is on Wall Street. Wall Street allocates capital. And we need to get capital to the ideas that are successful, whether it's microfinance, whether it's through financial literacy programs, Wall Street can be the engine that makes capital get to the people who need it.
I say to the young, be happy that you were born in Italy because of the beauty of the human capital, both masculine and feminine, of this country... No other country has such human capital.
I think there's an awful lot of twaddle and bullshit on EVA. The whole game is to turn retained earnings into more earnings. EVA has ideas about cost of capital that make no sense. Of course, if a company generates high returns on capital and can maintain this over time, it will do well. But the mental system as a whole does not work.
In order to help small businesses gain access to the credit and capital they need to run their business successfully, Congress must adopt policies that support functional capital markets without imposing undue restrictions on providers of debt and equity capital.
You know what works in venture capital? A group of incredibly smart, connected people who have the financial wherewithal and risk appetite to make multi-million dollar bets on unproven ideas and inexperienced founders. People who can make decisions quickly, and who spend their time trying to help entrepreneurs make the most of that cash.
Demographics need not be destiny. The waning West became what it is not by out-breeding the undeveloped world. We were once great not because of huge numbers, but due to human capital - people of superior ideas and abilities, capable of innovation, exploration, science, philosophy.
We are paying teachers who are in charge of our human capital, arguably more important than our financial capital, a very tiny fraction of what Wall Streeters are paid.
Only by providing leading-edge human capital and knowledge capital can American continue to maintain a high standard of living, including providing national security for its citizens.
In America right now, we use words like 'smart' to talk about bombs. American rhetoric is grounded in ideas of capital-G Good, capital-E Evil, and it's very clear who is on which side. But in a book you can do just the opposite. You can use all lower-case words.
We are now heading down a centuries-long path toward increasing the productivity of our natural capital - the resource systems upon which we depend to live - instead of our human capital.
In some ways you still have to buy your freedom, but that's because you live in a social structure that's organized around capital, and capital does equate with a certain kind of freedom, especially if you can start to generate capital on your own.
Capital, however capital may be defined, would practically cease to exist as an income producing fund, for the simple reason that if money, wherewith to buy capital, could be obtained for one-half of one per cent, capital itself could command no higher price.
One of the great ironies is that the impact of the flattening world has not been to empower decentralized rural land, but to strengthen the cities in China and India and elsewhere that are gateways between those countries and the West. It's deeply wise for the Chinese to be pro-urban in terms of development. They're creating space for ideas and human capital to be developed.
Empowering innovations require long-term investments, which tie up capital for years and years. So companies are using capital to create more capital, and consequently, the world is awash in capital, but the innovations we need to advance aren't there.
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