Human capital theory, or the notion that there is a direct relationship between educational investment and individual and national prosperity, has dominated public policy on education and labor for the past fifty years. In The Death of Human Capital?, Phillip Brown, Hugh Lauder, and Sin Yi Cheung argue that the human capital story is one of false promise: investing in learning isn't the road to higher earnings and national prosperity. Rather than abandoning human capital theory, however, the authors redefine human capital in an age of smart machines. They present a new human capital theory that rejects the view that automation and AI will result in the end of waged work, but see the fundamental problem as a lack of quality jobs offering interesting, worthwhile, and rewarding opportunities. A controversial challenge to the reigning ideology, The Death of Human Capital? connects with a growing sense that capitalism is in crisis, felt by students and the wider workforce, shows what's at stake in the new human capital while offering hope for the future.

In The Death of Human Capital?, Phillip Brown, Hugh Lauder, and Sin Yi Cheung demonstrate that the human capital story is one of a failed revolution that requires an alternative approach to education, jobs, and income inequalities. Rather than abandoning human capital theory, the authors seek to redefine it in a way that more accurately addresses today's challenges presented by global competition, new technologies, economic inequalities, and national debt.

Human capital theory and the policies spawned from it have promised much, delivered little, and trapped us all in an endless cycle of chasing the next credential. Brown, Lauder, and Chueng provide a clear and compelling argument for an alternative vision of labor markets that accounts for job creation, job destruction, and job skills, providing a roadmap for coming to terms with real inequalities in opportunity and life chances." -Kevin T. Leicht, Professor of Sociology, University of Illinois Urbana-Champaign