Earning a degree is one of life’s milestone. But a piece of parchment can never truly convey an individual’s full range of talents and abilities. Similarly, economic measures may give only a limited sense of the importance of human capital and social capital to a society’s sense of well being.
We live in a world of measurement. Almost as soon as we’re born, we’re weighed and measured. After we die, we’re measured one last time. In between, almost every aspect of our lives can be, and often is, measured: our physical development, our academic achievements, our value to an employer, our sporting ability.
Measurement matters. It lets doctors track a child’s development, helps governments ...