Issues in the Theory of Human Capital : Education as Investment

After a few references to the early literature on human capital, from Petty via Smith, Engel, and Nicholson to Marshall, various issues in current theory of human capital are briefly reviewed. They include questions regarding categories of " tangible human capital" and "intangible nonhuman capital;" investment in raising children. in schooling, and in research and development; depreciation of human capital through obsolescence, loss of strength, illness, retirement, and death; conflicts between efficiency and equality in the educational system; wrong educational mix resulting in waste or even net loss; the problem of complementarity among different kinds of physical and human capital; and the complexity of econometric rese3rch on comparative returns to different investments

Por qué discrepan los economistas

Por qué discrepan los economista

Por qué discrepan los economistas

Por qué discrepan los economista

Economic Analysis of Knowledge: The History of Thought and the Central Themes

Following the development of knowledge economies, there has been a rapid expansion of economic analysis of knowledge, both in the context of technological knowledge in particular and the decision theory in general. This paper surveys this literature by identifying the main themes and contributions and outlines the future prospects of the discipline. The wide scope of knowledge related questions in terms of applicability and alternative approaches has led to the fragmentation of research. Nevertheless, one can identify a continuing tradition which analyses various aspects of the generation, dissemination and use of knowledge in the economy