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1、外文翻译IntellectualCapitalMaterialSource:http://www.dtic.mil/Author:ClintB.Fondo,DarrenB.Wright1.ThehistoryofvaluinghumancapitalWhatisthevalueofahumanbeing?Theideaofcomparingmeasurablewealthtotheintangiblevalueofahumanbeingisattractive,butelusive.Therecentwidespreadint
2、erestinthesubjectcouldleadtotheerroneousconclusionthatthequestionandtheoriesonthesubjectarenew.Theyarenot.In1691,SirWilliamPettypostulatedthatlaborshouldbeincludedinanyestimateofnationalwealth.Heusedtheconceptofhumancapitaltoexplainvariouseconomicconditionsandphenom
3、enon,includingtheeconomiceffectsofmigration,thevalueofahumanlifedestroyedinwar,andthepowerofEngland(Wykstra,1971).Pettyestimatedthevalueofthestockofhumancapitalbycapitalizingthewagebilltoperpetuity,atthemarketinterestrate;thewagebillhedeterminedbydeductingpropertyin
4、comefromnationalincome!(Wykstra,1971).Notonlywasthismethodoneofthefirstusedtoestimatethevalueofhumancapital,itisamethodthathasdisplayedexceptionalstayingpower.In1776AdamSmithdiscussedthevalueoflaborextensivelyinwhatisperhapstheseminalworkoneconomicsinmoderntimes,The
5、WealthofNations.HewentasfarastoassignanexactvaluetoahumaninNorthAmerica(£100)(Smith,1991).Healsoclearlydemonstratedthatthevalueofhumancapitalinoneareaisnotequaltothevalueofhumancapitalinanother;pointingoutthatwhilehavingchildreninindustrializedEnglandwoulddrainthere
6、sourcesofafamily;alargefamilyinthelargelyagrariansocietyofNorthAmericamarkedanincreasedcapacityforwealthcreation(Smith,1991).WilliamFarrusedamethodsimilartoPetty‘stovaluehumancapitalin1853.Heattemptedtodeterminethenetpresentvalueofahumanbyestimatingallfutureincome,u
7、singactuarialtablestoapproximatefutureearnings.Farr“advocatethesubstitutionfortheexistingEnglishincometaxsystemofapropertytaxthatwouldincludepropertyconsistingofthecapitalizedvalueofearningcapacity”(Wykstra,1971).8Historically,theonlycompetingtheoryforhumanvalueesti
8、mationhasbeenthecost-of-productionmethodputforthbyErnstEngelin1883.EngelacknowledgedPetty‘sview,butdecidedthatthemethodwasinadequatetoesti
