{"title": "Meritocracy and Human Capital | Elias Rantapuska | Negotiator 107", "titleOriginal": "Meritokratia ja inhimillinen pääoma | Elias Rantapuska | Neuvottelija 107", "episodeNumber": "107", "guest": "Elias Rantapuska", "publishedAt": "2021-11-14", "duration": "36:08", "durationIso": "PT36M8S", "youtube": "https://www.youtube.com/watch?v=gm3MdToAHI0", "fiCanonical": "https://www.neuvottelija.fi/fi/episodes/127-meritokratia-ja-inhimillinen-paaoma-elias-rantapuska-neuvott", "originalLanguage": "fi", "format": "full", "topics": ["ownership_capital_tax", "leadership_governance"], "description": "Elias Rantapuska, head of the department of finance at Aalto University, defines meritocracy as an order in which you rise through innate talent, hard work, or a combination of the two, and points out that it is historically young and, set against a hierarchy based on birth, a good system in principle. The episode's sharpest argument concerns the asymmetry between financial and human capital: a million-euro portfolio can be managed on ten hours of advice, while turning talent into world class takes the ten thousand. That is why Piketty is, in his view, only partly right. The conversation widens into invisible meritocracies and into meta-work, which inside an organisation is called management.", "chapters": [], "sourceTranscriptType": "none", "subtitleMethod": "none", "provenance": "Owner page assembled from YouTube metadata and the neuvottelija.fi episode record. No chapter marks are published here: the publisher's list holds only two marks, at 0:00 and 1:01, and it is a split of the show-note text rather than a chapter list, so republishing it would assert timestamps that do not hold. No transcript is published either — the channel has no English caption track for this episode and the Finnish one is YouTube's automatic track. The guest is an academic discussing his own field and the episode is an argument rather than a survey of the literature; the reading of Piketty is his and is contested. Recorded 14 November 2021.", "coreTheses": ["Financial capital scales with almost no time input and human capital does not, which is the asymmetry the whole argument turns on.", "Piketty is right about the returns to capital and incomplete about human capital, because the two cannot be accumulated on the same terms.", "Meritocracy is historically recent, and comparing it to an ideal rather than to inherited hierarchy is what makes it look worse than it is.", "Meta-work — organising other people's work — is the invisible category, and an organisation calls it management without noticing it is the same thing."], "slug": "ep107-meritokratia-ja-inhimillinen-paaoma-elias-rantapuska", "guestsCanonical": ["Elias Rantapuska"], "guestPages": ["https://www.neuvottelija.com/podcast/guests/elias-rantapuska/"], "page": "https://www.neuvottelija.com/podcast/episodes/ep107-meritokratia-ja-inhimillinen-paaoma-elias-rantapuska/", "markdown": "https://www.neuvottelija.com/podcast/episodes/ep107-meritokratia-ja-inhimillinen-paaoma-elias-rantapuska/index.md", "captions": null, "transcript": null, "videoId": "gm3MdToAHI0", "dbId": null, "qaCoveragePct": 0.0, "qaSemanticVerdict": "metadata_only", "aiArticleEn": "https://www.neuvottelija.com/ai/ep107-meritokratia-ja-inhimillinen-paaoma-elias-rantapuska/", "aiArticleFi": "https://www.neuvottelija.fi/economy/ep107-meritokratia-ja-inhimillinen-paaoma-elias-rantapuska/"}