"Human capital" is an economic term. It has a specific meaning and while many have mistaken it in a "dehumanizing" manner, that's not how it's meant or how it was used.
Unless you know the speaker in question, I don't see as you have and greater standing than anyone else to say what was meant.
The fact that it is an economic jargon term does not mean it is not dehumanizing. If you say "human capital" rather than "people" you are surely removing the fact that they are humans beings with value beyond what they do economically from consideration - that is dehumanizing. Literally.
If nothing else, if you go on national television, in full knowledge that the entire nation might see it, and you are not aware of how your jargon terms may come across and avoid using them, you are dehumanizing, by displaying your complete lack of care for the audience's
human sensibilities.