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Labor Markets, Human Capital, and the Human Agent's Share of Production

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  • Huffman, Wallace E.

Abstract

Labor, or the time of the human agent, is one of the most important inputs in production. Labor services in agriculture are provided: by farm operators/ managers who perform very important allocative, production/marketing decision making and supervisory functions (Schultz 1972; Huf&nan 1985; Huffman 199lb) and frequently engage directly in production; by members of the operator's family or relatives who largely work without direct compensation; and by hired workers. The incomes of farm families and of hired farm workers are determined not only by the amount of labor that they sell but also by the amount of other resources to which they hold income rights. Historically, issues have been raised not only about trends in the functional distribution of income in the United States but also about how well labor and capital markets are functioning to keep returns comparable across sectors and regions.

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  • Huffman, Wallace E., 1996. "Labor Markets, Human Capital, and the Human Agent's Share of Production," ISU General Staff Papers 199601010800001404, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:199601010800001404
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    Cited by:

    1. Wallace HUFFMAN, 1996. "Farm Labor: Key Conceptual And Measurement Issues On The Route To Better Farm Cost And Return Estimates," Staff Papers 280, Iowa State University Department of Economics.
    2. Huffman, Wallace E. & Evenson, Robert E., 2000. "Structural and productivity change in US agriculture, 1950-1982," Agricultural Economics, Blackwell, vol. 24(2), pages 127-147, January.
    3. Huffman, Wallace E., 2001. "Human capital: Education and agriculture," Handbook of Agricultural Economics, in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 1, chapter 7, pages 333-381, Elsevier.
    4. Sumner, Daniel A & Antle, John M & Gardner, Bruce L, 2004. "Contributions of D. Gale Johnson to the Economics of Agriculture," Economic Development and Cultural Change, University of Chicago Press, vol. 52(3), pages 659-679, April.
    5. Evenson, Robert E. & Huffman, Wallace E., 1997. "Long-Run Structural and Productivity Change in U.S. Agriculture: Effects of Prices and Policies," Center Discussion Papers 28518, Yale University, Economic Growth Center.
    6. Huffman, Wallace E. & Orazem, Peter F., 2004. "The Role of Agriculture and Human Capital in Economic Growth: Farmers, Schooling, and Health," Working Papers 18202, Iowa State University, Department of Economics.
    7. Abler, David G. & Shortle, James S. & Carmichael, Jeffrey J. & Horan, Richard D., 2001. "Climate Change, Agriculture, And Water Quality In The Chesapeake Bay Region," 2001 Annual meeting, August 5-8, Chicago, IL 20504, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Lin, Justin Y & Wang, Gewei & Zhao, Yaohui, 2004. "Regional Inequality and Labor Transfers in China," Economic Development and Cultural Change, University of Chicago Press, vol. 52(3), pages 587-603, April.
    9. Robert E. Evenson & Wallace B. Huffman, 1997. "Long-Run Structural and Productivity Change in U.S. Agriculture: Effects of Prices and Policies," Working Papers 773, Economic Growth Center, Yale University.

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