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• Stefano Spalletti

The paper highlights that economics of education formally evolved in the last century, but its conceptualization was articulated centuries ago. The most prominent economists to address issues of human capital were A. Smith, J. S. Mill and A. Marshall. The residual portion of economic growth which was unexplained by traditional economic inputs was, instead, one main reason of the spreading of the literature on education after 1960. In those years, the Chicago School and G. Becker adopted the rates of return approach on human capital investments as fundamental base of research. The methodology was not full-accepted and a large part of the early criticism is present, now, in the human capability approach of A. Sen.

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Paper provided by Macerata University, Department of Studies on Economic Development (DiSSE) in its series Working Papers with number 06-2007.

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Date of creation: Mar 2007
Date of revision: Nov 2008
Handle: RePEc:mcr:wpaper:wpaper00006

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Related research

Keywords: education; growth; Crescita istruzione; human capital; capitale umano;

Find related papers by JEL classification:
O1 - Economic Development, Technological Change, and Growth - - Economic Development
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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This page was last updated on 2009-12-2.