’s why | treat them as synonymous. And | prefer to recognize human capital explicitly. Keynes surely understood the concept. He was the star pupil of Alfred Marshall's later teaching career, unless he shared that distinction with his lifelong personal friend and professional adversary Arthur Pigou, and Marshall and

new, nearly inverted logic. “Our understanding of how markets and businesses operate was passed down to us more than a century ago by figures such as Alfred Marshall,” the economist Brian Arthur wrote in the Harvard Business Review in the summer of 1996. “It is an understanding based squarely upon the assumption o