This is the fourth part of my inaugural lecture at City University London, ‘Is Ice Cream Strawberry?’. You can find part one here, part two here, and part three here.

Human capital

So here’s person number 4: Gary Becker, a Nobel prize-winning economist.

Fifty years ago he used the phrase ‘human capital’ to refer to the economic value that companies should ascribe to their employees.

These days, of course, it is common sense to invest time in recruiting, training and retaining good employees. But at the time employees were seen as a cost.

We need a similar change in the way we see our readers – not as a cost on our time but as a valuable part of our operations that we should invest in recruiting, developing and retaining. Continue reading →