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The Economics of Human Development and Social Mobility

  • James J. Heckman

    ()

    (The University of Chicago)

  • Stefano Mosso

    ()

    (The University of Chicago)

This paper distills and extends recent research on the economics of human development and social mobility. It summarizes the evidence from diverse literatures on the importance of early life conditions in shaping multiple life skills and the evidence on critical and sensitive investment periods for shaping different skills. It presents economic models that rationalize the evidence and unify the treatment effect and family influence literatures. The evidence on the empirical and policy importance of credit constraints in forming skills is examined. There is little support for the claim that untargeted income transfer policies to poor families significantly boost child outcomes. Mentoring, parenting, and attachment are essential features of successful families and interventions to shape skills at all stages of childhood. The next wave of family studies will better capture the active role of the emerging autonomous child in learning and responding to the actions of parents, mentors and teachers.

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File URL: http://humcap.uchicago.edu/RePEc/hka/wpaper/Heckman_Mosso_2014_economics-human-development.pdf
File Function: First version, 2/13/2014
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Paper provided by Human Capital and Economic Opportunity Working Group in its series Working Papers with number 2014-004.

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Date of creation: Feb 2014
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Handle: RePEc:hka:wpaper:2014-004
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Contact details of provider: Web page: http://www.hceconomics.org/
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