Virtues and weaknesses in the view of Human Capital in Higher Education Institutions

Abstract

This essay analyzes the human capital approach to higher education, contrasting arguments that defend its value and warn of its problems. Its objective is to analyze the most relevant strengths and weaknesses of the human capital approach in the context of Latin American higher education. The analysis shows how it is possible to observe great contributions of this approach in terms of the strategic and efficient management of the teaching and administration of higher education, the valuation of intangibles and the consideration of the environment. Also, it shows as main problems a tendency to reduce human purposes, utilitarianism and the potential alignment of students and future professionals. The existence of relevant contributions of this approach to educational management is concluded, especially necessary, considering the scarcity of resources and the massive admission of students during the last 30 years in Latin America. These can be put to best use when the original and more important purposes of higher education are not lost sight of.