In the Academy of Life Planning, we believe wealth is not what you have — it’s what you can do.
This philosophy resonates powerfully with a landmark paper by Paula England and Nancy Folbre, Reconceptualizing Human Capital (2000) — a text that redefines what it means to be “wealthy” in human terms.
Beyond the Balance Sheet
Traditional economics treats human capital as a tool for earning more money.
England and Folbre broaden that view. They describe capabilities — the health, skills, and motivation that enable us to live well and contribute to others — as the true source of value.
They outline four fundamental capabilities:
- Physical functioning – energy, health, and practical competence
- Cognitive functioning – reasoning, literacy, and learning
- Self-regulation – discipline, emotional balance, and integrity
- Caring – empathy, compassion, and service
These mirror the Four Capitals of the GAME Plan™ — Physical, Intellectual, Emotional, and Spiritual. When all four are cultivated in harmony, they generate not just income, but well-being, resilience, and fulfilment.
Investment in People, Not Portfolios
In neoclassical finance, investment is self-directed and profit-driven.
England and Folbre show that human growth is socially embedded: we learn through families, networks, communities, and caring relationships. Our wealth is intertwined.
For Holistic Wealth Planners, this reframing matters.
Financial plans must evolve from extractive accumulation to collaborative empowerment — designing ecosystems where every person’s growth strengthens the collective.
Caring as Capital
Caring is essential yet undervalued. It keeps societies alive, children thriving, and elders safe — but markets reward it poorly. The authors call this an “invisible public good.”
At the Academy, we see caring not as charity but as spiritual capital — the highest yield investment of all.
It compounds through trust, purpose, and legacy — the currency of the next economy.
Where Skill Meets Love
England and Folbre note that skills and values develop together: the more we practice a capability, the more we cherish it.
This insight lies at the heart of the GAME Plan™.
We grow by doing what we love — and loving what we do. Purpose amplifies mastery; mastery amplifies joy. That’s the alchemy of holistic wealth.
The Planner’s New Mandate
A Holistic Wealth Planner’s role is not to maximise capital but to activate capability — the power to live freely and contribute meaningfully.
This means:
- Measuring progress in vitality, not just returns
- Validating unpaid or underpaid caring work as real wealth creation
- Empowering clients to align money with meaning
- Cultivating communities that nourish each other’s human potential
From Extraction to Empowerment
If human capability is the real asset base of society, then the role of financial planning is to sustain it.
That’s the vision of the Academy of Life Planning — to replace extraction with empowerment.
To transform “human capital” into Human Capability Wealth — wealth that cannot be measured in currency alone.
“Well-behaved adults are public goods, created in large part by the labor of mothers and other caring laborers.”
— England & Folbre (2000)
Call to Action
If you feel called to build a values-led practice that plans for capabilities before capital, join us at the Academy of Life Planning.
Discover how the GAME Plan™ can help you redefine wealth — for yourself, your clients, and the world.
I’d love to hear your view.
👉 What do you think your greatest human capital asset is today — and what would it take to leverage it to create a sustainable livelihood?
(If you’d prefer to talk privately, just message me. Many do.)
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