By Steve Conley | Academy of Life Planning
For over half a century, human capital theory has shaped how we understand work, income, and worth. It tells us that people earn what they deserve — that the talented and hardworking rise, and the rest should “upskill” or fall behind.
But as economist Blair Fix argues in The Rise of Human Capital Theory (Real-World Economics Review, 2021), this idea is as flawed as it is seductive. It replaces biology with economics, but keeps the same core illusion as eugenics: that the value of a human being can be measured in isolation.
It can’t.
🧩 Wealth Is a Relationship, Not a Trait
Fix’s central argument is simple yet revolutionary — income is a social trait.
Our productivity doesn’t arise from innate brilliance or individual effort alone. It flows from our relationships, institutions, and environments.
For Holistic Wealth Planners, this truth changes everything.
We must stop measuring success by income and start seeing wealth as a systemic outcome — the natural product of trust, fairness, and mutual flourishing.
🕊️ The Übermensch Myth
Human capital theory idolises the “top 1%” as super-producers. But as Fix shows, this is mythology disguised as mathematics. The elite do not create value alone — they extract it through structures of power.
The Holistic Wealth Planner’s task is to expose this illusion. We help clients see that their worth is not their wage, and that freedom comes from reclaiming the value of their human and social capital — time, relationships, and purpose.
🌱 Lessons from the Chicken Coop
Fix draws on a startling experiment by geneticist William Muir. Breeding only the most “productive” hens led to psychopathic chaos — they fought and killed each other. But breeding cooperative flocks multiplied output.
The message for planners?
Communities outperform hierarchies. Prosperity arises when we design systems that reward cooperation, not competition. Human flourishing is a team sport.
⚖️ Inequality Is a Design, Not a Destiny
Chicago-school economists once declared inequality “an economic good.”
This belief still underpins most financial systems — rewarding extraction, punishing empathy, and calling it efficiency.
Holistic Wealth Planners reject this false gospel.
Our role is to design frameworks where wealth circulates, purpose multiplies, and structural trust replaces structural violence.
🔍 Power, Not Merit, Drives Income
Fix reminds us that income reflects power. Pharaohs, CEOs, and oligarchs don’t earn more because they contribute more — they earn more because they command more.
Our mission is to democratise that power: to help individuals and communities regain agency over their choices, time, and future.
🌍 From Human Capital to Human Flourishing
In the next economy, the question won’t be “What’s your capital?” but “How do you contribute to collective well-being?”
Holistic Wealth Planning redefines value around the quality of life we create together. It’s a shift from control to cooperation, from ownership to stewardship, from profit to purpose.
This is the paradigm that replaces extraction with empowerment.
True wealth is not held by individuals — it is shared among those who help each other thrive.
đź“Ł Join the Movement
If you’re ready to plan beyond money — to design lives, not portfolios — join us at the Academy of Life Planning.
Together, we’re building the next generation of planners who understand that the most powerful form of capital… is human connection.
If this story resonates with you — whether you’re a planner, policymaker, or participant — we invite you to explore the GAME Plan™ and our work at the Academy of Life Planning.
Discover how life-first, product-free planning can restore trust to finance — and wealth to people.
 Learn more: http://www.aolp.co
 Join the Academy: Become a Holistic Wealth Planner
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