Investment in Human Capital, Appropriation, and Mandatory Schooling
AbstractHigh inequality in human capital may result in appropriation. In anticipation, the rich may favor policies which induce a more equal distribution of human capital, such as income transfers and mandatory schooling. This paper compares several such alternatives. We find that mandatory schooling results in higher incomes for both the rich and the poor sons, and increases the welfare of all. Moreover, it is the optimal policy for the rich, even when schools are fully financed by the rich.
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Bibliographic InfoPaper provided by California Irvine - School of Social Sciences in its series Papers with number 99-00-23.
Length: 14 pages
Date of creation: 2000
Date of revision:
Contact details of provider:
Postal: UNIVERSITY OF CALIFORNIA IRVINE, SCHOOL OF SOCIAL SCIENCES, IRVINECALIFORNIA 91717 U.S.A.
EDUCATION ; HUMAN CAPITAL;
Find related papers by JEL classification:
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- I20 - Health, Education, and Welfare - - Education - - - General
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