Human assets: The most precious capital

Abstract

In the last few months we have witnessed a global economic downturn and concerns about the fiscal health of corporations. There is much talk about assets—both financial and capital. Yet, we hear very little about our most precious asset, our human assets. The intellectual capital of the planet is the most critical asset that can address the serious issues we face. Yet, the $700 billion Wall Street bailout was crafted in about two weeks, with Washington working around the clock to get things done. It is not only the size of the bailout that is of concern, but also the kinetics of the reaction on the Hill! The concern and the attention that we as a nation placed on our financial assets say much about our values. Where is the urgency regarding our human asset? Why aren’t we outraged about the education deficit and why do we value financial assets over human assets? To paraphrase and embellish an observation by Thomas Friedman, what we need is not just a bailout of our economy, but a buildup of our people. One would think that education of our children would be the highest priority, in America and across the globe. Unfortunately, a close look at schools across the United States points out that we do not place a value on the most precious capital we have: our children. The resources we have channeled for educating the next generation is pitiful when we compare it to the resources we have allocated for defense, etc. We need to invest in, nurture, and cultivate our human assets. The place to start is with our schools—primary Human Assets: The Most Precious Capital