Human Capital A Theoretical and Empirical Analysis, with Special Reference to Education

Name: Human Capital A Theoretical and Empirical Analysis, with Special Reference to Education
Price: 14.38 USD
Availability: InStock
ISBN: 9780226041209

ISBN-10: 0226041204

ISBN-13: 9780226041209

Edition: 3rd 1993

Authors: Gary S. Becker

List price: $33.00

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Human Capitalis Becker's classic study of how investment in an individual's education and training is similar to business investments in equipment. Recipient of the 1992 Nobel Prize in Economic Science, Gary S. Becker is a pioneer of applying economic analysis to human behavior in such areas as discrimination, marriage, family relations, and education. Becker's research on human capital was considered by the Nobel committee to be his most noteworthy contribution to economics.This expanded edition includes four new chapters, covering recent ideas about human capital, fertility and economic growth, the division of labor, economic considerations within the family, and inequality in…

Book details

List price: $33.00
Edition: 3rd
Copyright year: 1993
Publisher: University of Chicago Press
Publication date: 3/14/1994
Binding: Paperback
Pages: 412
Size: 0.60" wide x 0.90" long x 0.09" tall
Weight: 1.540
Language: English

Gary S. Becker (1930-2014) was University Professor at the University of Chicago with a joint appointment in both the economics and sociology departments. He was the author of many books, including Human Capital: A Theoretical and Empirical Analysis and The Economics of Discrimination. He collaborated with Richard Posner on the Becker-Posner Blog, which formed the basis for their book Uncommon Sense: Economic Insights, from Marriage to Terrorism. Becker was awarded the Nobel Prize in Economics in 1992 and the Presidential Medal of Freedom in 2007.



List of Tables


List of Charts


Preface to the Third Edition


Preface to the First Edition



Introduction to the Second Edition Introduction to the First Edition



Human Capital Revisited



Introduction



Education and Training



Human Capital and the Family



Human Capital and Economic Development



Conclusions



References



Theoretical Analysis



Investment in Human Capital: Effects on Earnings



On-the-Job Training General Training Specific Training



Schooling



Other Knowledge



Productive Wages Increases



Investment in Human Capital: Rates of Return



Relation between Earnings, Costs, and Rates of Return Addendum: The Allocation of Time and Goods over Time



The Incentive to Invest Number of Periods Wage Differentials and Secular Changes Risk and Liquidity Capital Markets and Knowledge



Some Effects of Human


Capital Examples


Ability and the Distribution of Earnings


Addendum: Education and the Distribution of Earnings: A Statistical Formulation


Addendum: Human Capital and the Personal Distribution of Income: An Analytical Approach


Supplement: Estimating the Effect of Family Backgrounds on Earnings



Empirical Analysis



Rates of Return from College Education



Money Rates of Return to White Male College


Graduates Returns in 1939


Costs in 1939


Rates of Return in 1939


Rates of Return in 1949



Some Conceptual Difficulties


Correlation between "Ability" and Education


Correlation between Education and Other Human Capital



Rates of Return to Other


College Persons


College Dropouts


Nonwhites Women


Rural Persons



Variation in Rates of Return



Underinvestment in College Education?



Private Money Gains



Social Productivity Gains



Private Real Rates



Rates of Return from High School Education and Trends over Time



The Rate of Return from High School Education



Trends in Rates of Return After 1939 Before 1939



Age, Earnings, Wealth, and Human Capital



Age-Earnings Profiles



Age-Wealth Profiles



Summary and Conclusions



Summary



Future Research



Concluding Comments



Economy-Wide Changes Introduction



Human Capital and the Rise and Fall of Families, by Gary S. Becker and Nigel Tomes



Introduction



Earnings and Human Capital Perfect Capital Markets Imperfect Access to Capital



Assets and Consumption



Fertility and Marriage



Empirical Studies



Summary and Discussion


References



The Division of Labor, Coordination Costs, and Knowledge, by Gary S. Becker and Kevin M. Murphy



Introduction



Division of Labor among Tasks



Coordination Costs



Knowledge and Specialization



Extent of the Market



The Growth in Specialization and Knowledge



The Division of Labor between Sectors: Teachers and Workers



Summary


Appendix


References



Human Capital, Fertility, and Economic Growth, by Gary S. Becker, Kevin M. Murphy, and Robert Tamura



Introduction



Basic Properties of the Model



Fertility and Growth



Comparative Advantage in the Production of Human Capital



Discussion



Concluding


Remarks


References


Appendixes



Sources and Methods



Incomes



The Basic Data



Under- and Overreporting



Unemployment



Coverage in 1939



Taxes



Urban-Rural Distribution



Hours of Work



Costs



Earnings of Students



Direct Private Costs



Direct Social Costs



Mathematical Discussion of Relation between Age, Earnings, and Wealth


Author Index


Subject Index