ABSTRACT
Like an undeveloped society, the Europe that received funds from the United States had a deficient physical capital base, but in contrast to undeveloped societies possessed an intact, advanced base of skills and learning that were appropriate to advanced industrial society. America and Europe share a legacy in the manner in which human capital has been developed for social needs, a legacy that was shaped by historical circumstances and religious attitudes and has in turn shaped our current institutions and beliefs. While European crafts were being subordinated to protocapitalists, European culture began philosophically to embrace individualism, to emphasize the rights and responsibilities of the individual in society. A stratified society in a technologically advanced country indicates an unwise pattern of human capital investment and spells trouble for both the nation and its citizens. A sense of despair in the poor and middle classes, and a lack of consensus between classes on national goals, would be expected.
