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12-17-2012, 07:19 PM
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4,182 posts, read 6,017,403 times
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In other words, what is more important to you: human capital, or financial capital? The overwhelming majority...actually everyone who answered the question so far....has said human capital is more important. Interesting.
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12-17-2012, 07:47 PM
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24,497 posts, read 37,449,118 times
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Quote:
Originally Posted by ndfmnlf
In other words, what is more important to you: human capital, or financial capital? The overwhelming majority...actually everyone who answered the question so far....has said human capital is more important. Interesting.
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I think you're using the term human capital incorrectly. Human capital is an aggregate of many humans in regards to economic impact. Age is a factor, but so is knowledge. Chances are that the 80 year-old is wider than the 20-year old. |
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12-17-2012, 07:51 PM
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Location: NC
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I'd rather be young and broke than 80 and loaded.
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12-17-2012, 08:03 PM
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4,182 posts, read 6,017,403 times
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The concept of human capital also applies to the individual. See Human Capital: The Concise Encyclopedia of Economics | Library of Economics and Liberty
And Your Real Net Worth - CBS News
Quote:
The concept
of human capital goes back to the famous economist Gary Becker at the
University of Chicago, who won a Nobel Prize for this almost 20 years ago. The
idea is that people are endowed with more than just their portfolio of stocks
and bonds and a house and what they might have in the bank. What they really
have is the value of their human capital, which is their potential to work.
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12-17-2012, 08:09 PM
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24,497 posts, read 37,449,118 times
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Quote:
Originally Posted by ndfmnlf
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Interesting stuff thanks. It's basically discounted future earnings. From a financial perspective, most people would be ahead choosing to be 80. |
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12-17-2012, 08:12 PM
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Location: Scottsdale, AZ
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What about a good-looking 50 year old with $1.5 million? I think that's the best of both worlds; young enough to enjoy your life and enough money to sustain a comfortable lifestyle while still having more earning potential left in your years.
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12-17-2012, 09:31 PM
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4,316 posts, read 8,154,482 times
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Quote:
Originally Posted by jtur88
I wouldn't be a 20-year old in 2012, even with the $3-million thrown in.
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I agree.
I'd pick 80, with or without the money. |
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12-17-2012, 11:13 PM
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Location: Here.
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If I pick the rich, old guy, can I be Hugh Hefner?  |
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12-18-2012, 12:23 AM
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I'll play! Ideally the trade in age involves the knowledge I've acquired being almost to midpoint of the two ages ; -)
I'd rather be a broke 20 yo in 1952 than an 80 yo in 2012 with $3m. Cause if you adjust for inflation you're only $346,000 away in buying power from the 80 yr with $3million in 2012, and you have lots more economic job opportunity.
I'd rather be a 20 yr old broke in 2012 than an 80 yo w $3m in 2012 still more fun ahead living life. Perhaps teach ESL classes around the world in cultures where it still feels a bit like a generation ago in the USA. Still fun options.
As the timeless lament on age goes, "Too old too soon, too smart too late..."
As one of the enduring lessons of the 'Twilight Zone' teaches, you can't go back and relive your youth! :-D
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12-18-2012, 12:42 AM
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Location: Victoria TX
42,661 posts, read 78,439,955 times
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When I was 20, I was broke, in Huntsville, Alabama. It was 1958, and I've done alright. I'll turn 80 in the next president's first term, and I have enough money to get through this life, and memories that I wouldn't trade for $3-million. Among them are some rewarding memories of being broke in Huntsville. So as far as I'm concerned, I will have had both -- at least, close enough.
Last edited by jtur88; 12-18-2012 at 12:50 AM..
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