In this paper we point out the main methodological differences between the mainstream theory of human capital and the heterodox theory of personalist capital. On the basis of the description of the three levels of human actions which are respectively related to a person’s physical liberty, intentional liberty, and participative liberty, we explain how and why the concept of personalist capital includes and integrates that of human capital. In fact, personalist capital goes beyond the costs-benefits analysis of investment in education and training, the idea of a stock accumulation of working capabilities and technological knowledge, the comparison of human capital level among nations and continents.

According to personalist perspective it is important to understand the ethical impact of human actions in the social context and in the economic market. Personalist economics connects the moral virtuosity or viciously of human behaviors with the enhancement of human dignity and the improvement of the quality of social relations.