Abstract: This paper brings forward that putting the migration into the theoretical framework of human capital is a historic error.It also argues that migration is one pseudo presentation of the investment of human capital,whatever from the perspectives of the connotation or the denotation of the theory of human capital.Then it offers superficial and deep-seated causes for that error with the birth and development of the theory of human capital and the receipts hallucination of the migration.It finally points out that the false illustration of the migration will undermine the purity of the theory of human capital,and even confuse the function of the migration and the role of the investment in human capital,leading to a wrong direction for the investment in human capital and the process of urbanization.

Keywords: Human capital, Theory of human capital, Human capital investment, Migration, Hallucination of returns

摘要： 将迁移纳入人力资本理论框架是一个历史性错误。无论从人力资本及人力资本投资的内涵还是外延来看,迁移都是一种虚假的人力资本投资形式。本文从人力资本理论诞生和发展的历程以及迁移的收益幻觉角度分析了导致这一错误的表层和深层原因。最后指出,关于迁移的错误表述会损害人力资本理论的纯洁性,这将混淆迁移的功能与人力资本投资的作用,从而对人力资本投资行为和城镇化进程产生错误的导向作用。

关键词: 人力资本理论, 人力资本, 人力资本投资, 迁移, 收益幻觉