WaEx: Given the conversation it has provoked, the fuss from Rep. Alexandria Ocasio-Cortez over President Trump’s economic adviser Kevin Hassett’s use of the phrase “human capital stock” might have to be upgraded to an all-out brouhaha. The socialist congresswoman melted down over Hassett’s language in a recent tweet:
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.
Now, given that Ocasio-Cortez does apparently have a degree in economics, we might assume that she has come across this basic Econ 101 phrase before. Thus, the congresswoman really should know that its meaning is entirely the opposite of the one she’s claiming, falsely suggesting that it means that we’re just worker bees, drones, perhaps even slaves to be put back to laboring. So, too, all Hassett’s other critics, from Sen. Elizabeth Warren to writers at Vox and Rolling Stone, should know better. more