Gary becker, who greg mankiw rightly describes as one of the greatest economists, has passed away. Gary beckers work on human capital started around 1960. I know beckers research indirectly, for the most part. A theoretical and empirical analysis with special reference to education, third edition 1994, gary s. Becker is a pioneer of applying economic analysis to human behavior in such areas as discrimination, marriage, family relations, and. If you havent had the opportunity to read any of his work, there is a list of great openaccess papers at marginal revolution i was reading gary beckers encyclopedia entry at econlog. In this paper we will focus on beckers early work in. General issues one of the most important ideas in labor economics is to think of the set of marketable skills of workers as a form of capital in which workers make a variety of investments.
These are all forms of capital in the sense that they are assets that yield income and other useful outputs over long periods of time. One of the most significant strands of that research was that which focused on human capital, occuping a significant part of his career, especially in his early years. It was motivated by the rising interest in economic growth at the time. In studies such as a treatise on the family 1981, becker analyzed the household as a sort of factory, producing goods. The family is responsible for most of the investment in their childrens human capital. Gary becker, and the theory of human capital economic.
Human capital gary becker first edition signed rare book. Gary beckers early work on human capital collaborations. This perspective is important in understanding both investment incentives, and the structure of wages and earnings. View citations in econpapers 303 track citations by rss feed there are no downloads for this item, see the econpapers. As stated in the introduction to the first edition of his. The ones marked may be different from the article in the profile. A theoretical and empirical analysis, with special reference to education, published in 1964 and preceded by his 1962 journal of political economy article, investment in human capital, becker notes that he hesitated to use. The first person who has introduced the concept of human capital is gary s. The basic theory of human capital london school of. Becker is a pioneer of applying economic analysis to human behavior in such areas as discrimination, marriage, family relations, and education. Recipient of the 1992 nobel prize in economic science, gary s.
This cited by count includes citations to the following articles in scholar. Becker, who won the nobel prize for having extended the domain of microeconomic analysis to a wide range of human behaviour and. A theoretical and empirical analysis, with special reference to education. Lectures on human capital by gary becker this series of lectures recorded during the spring of 2010 are from econ 343 human capital, a class taught every year by gary becker at the university of chicago. A theoretical and empirical analysis, with special reference to education, second edition. In this class, becker expounds upon the theory of human capital that he helped create and for which he won the nobel prize. Human capital is beckers classic study of how investment in an individuals education and training is similar to business investments in equipment. In human capital 1964, he argued that an individuals investment in education and training is analogous to a companys investment in new machinery or equipment.
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