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The Costing of Human Resource Development

In: The Economics of Education

Author

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  • Mary Jean Bowman

    (University of Chicago)

Abstract

During recent years the concern of economists with problems of development has stimulated a number of rediscoveries, extensions and even innovative transformations in both substantive theory and analytical methods. Among the most important of the substantive rediscoveries has been the human ‘art and ingenuity’ that were so much appreciated in their economic relevance by Petty and his contemporaries. The twentieth-century variant is strongly tinted with ‘residualist’ nebulosity, to be sure, but it is nevertheless acquiring respectability in econometric input-output and production-function analysis. It now enjoys enhanced status in modernized classicism and a place of honour in an extended neo-classical investment theory. The one thing that these diverse and sometimes contradictory approaches share in their more fruitful manifestations is a tendency to bring human and physical resources into the same conceptual framework. To treat costs of human resource development at all adequately thus requires a generalized approach to costs.

Suggested Citation

  • Mary Jean Bowman, 1966. "The Costing of Human Resource Development," International Economic Association Series, in: E. A. G. Robinson & J. E. Vaizey (ed.), The Economics of Education, chapter 0, pages 421-450, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-08464-7_14
    DOI: 10.1007/978-1-349-08464-7_14
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    Cited by:

    1. Bos, Frits, 2011. "A national accounts satellite for human capital and education," MPRA Paper 33791, University Library of Munich, Germany.

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