The need for quantifying human capital emerged naturally with its use in economic research, but so did problems of measurement. The objective of this article is to analyse the most common difficulties in quantifying and defining human capital. This paper will offer a qualitative survey of the...

Current economics textbooks and neoclassical economists justify a theory of consumer behaviour based on utility maximisation on a priori grounds. This methodology follows Lionel Robbins' idea that economic theory is based on logical deduction from postulates which are "simple and indisputable...