Policies to Foster Human Capital
This paper considers the sources of skill formation in a modern economy and emphasizes the importance of both cognitive and noncognitive skills in producing economic and social success and the importance of both formal academic institutions and families and firms as sources of learning. Skill formation is a dynamic process with strong synergistic components. Skill begets skill. Early investment promotes later investment. Noncognitive skills and motivation are important determinants of success and these can be improved more successfully and at later ages than basic cognitive skills. Methods currently used to evaluate educational interventions ignore these noncogntive skills and therefore substantially understate the benefits of early intervention programs and mentoring and teenage motivation programs. At current levels of investment, American society underinvests in the very young and overinvests in mature adults with low skills.
|Date of creation:||Aug 1999|
|Date of revision:|
|Publication status:||published as Heckman, James J., 2000. "Policies to foster human capital," Research in Economics, Elsevier, Elsevier, vol. 54(1), pages 3-56, March.|
|Note:||LS PE CH|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
Web page: http://www.nber.org
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- James Heckman & Neil Hohmann & Jeffrey Smith, 1998.
"Substitution and Dropout Bias in Social Experiments: A Study of an Influential Social Experiment,"
UWO Department of Economics Working Papers
9819, University of Western Ontario, Department of Economics.
- James Heckman & Neil Hohmann & Jeffrey Smith & Michael Khoo, 2000. "Substitution and Dropout Bias in Social Experiments: A Study of an Influential Social Experiment," The Quarterly Journal of Economics, Oxford University Press, vol. 115(2), pages 651-694.
- Heckman, James J, 1976. "A Life-Cycle Model of Earnings, Learning, and Consumption," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages S11-44, August.
- Paul T. Decker & Walter Corson, 1995. "International Trade and Worker Displacement: Evaluation of the Trade Adjustment Assistance Program," ILR Review, Cornell University, ILR School, vol. 48(4), pages 758-774, July.
- Martin Browning & Lars Peter Hansen & James J. Heckman, 1999.
"Micro Data and General Equilibrium Models,"
99-10, University of Copenhagen. Department of Economics.
- Currie, J. & Thomas, D., 1995.
"Does Head Start make a Difference?,"
95-10, RAND - Reprint Series.
- Neal, Derek, 1997. "The Effects of Catholic Secondary Schooling on Educational Achievement," Journal of Labor Economics, University of Chicago Press, vol. 15(1), pages 98-123, January.
- David Card & Alan B. Krueger, 1996.
"School Resources and Student Outcomes: An Overview of the Literature and New Evidence from North and South Carolina,"
Journal of Economic Perspectives,
American Economic Association, vol. 10(4), pages 31-50, Fall.
- David Card & Alan Krueger, 1996. "School Resources and Student Outcomes: An Overview of the Literature and New Evidence from North and South Carolina," NBER Working Papers 5708, National Bureau of Economic Research, Inc.
- James Heckman & Pedro Carneiro, 2003.
"Human Capital Policy,"
NBER Working Papers
9495, National Bureau of Economic Research, Inc.
- Duane E. Leigh, 1995. "Assisting Workers Displaced by Structural Change: An International Perspective," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number awd, November.
- Robert J. LaLonde, 1995. "The Promise of Public Sector-Sponsored Training Programs," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 149-168, Spring.
- Lynch, Lisa M, 1992. "Private-Sector Training and the Earnings of Young Workers," American Economic Review, American Economic Association, vol. 82(1), pages 299-312, March.
- Heckman, James & Layne-Farrar, Anne & Todd, Petra, 1996. "Human Capital Pricing Equations with an Application to Estimating the Effect of Schooling Quality on Earnings," The Review of Economics and Statistics, MIT Press, vol. 78(4), pages 562-610, November.
- John Cawley & James Heckman & Edward Vytlacil, 1998. "Understanding the Role of Cognitive Ability in Accounting for the Recent Rise in the Economic Return to Education," NBER Working Papers 6388, National Bureau of Economic Research, Inc.
- repec:fth:prinin:366 is not listed on IDEAS
- Couch, Kenneth A, 1992. "New Evidence on the Long-Term Effects of Employment Training Programs," Journal of Labor Economics, University of Chicago Press, vol. 10(4), pages 380-88, October.
- Eric A. Hanushek, . "The Evidence on Class Size," Wallis Working Papers WP10, University of Rochester - Wallis Institute of Political Economy.
- Donohue, John J, III & Siegelman, Peter, 1998. "Allocating Resources among Prisons and Social Programs in the Battle against Crime," The Journal of Legal Studies, University of Chicago Press, vol. 27(1), pages 1-43, January.
- Ann P. Bartel, 1991. "Productivity Gains From the Implementation of Employee Training Programs," NBER Working Papers 3893, National Bureau of Economic Research, Inc.
- James J. Heckman & Lance Lochner & Christopher Taber, 1998.
"Explaining Rising Wage Inequality: Explorations with a Dynamic General Equilibrium Model of Labor Earnings with Heterogeneous Agents,"
NBER Working Papers
6384, National Bureau of Economic Research, Inc.
- James Heckman & Lance Lochner & Christopher Taber, 1998. "Explaining Rising Wage Inequality: Explanations With A Dynamic General Equilibrium Model of Labor Earnings With Heterogeneous Agents," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(1), pages 1-58, January.
- Arulampalam, W. & Robin A. Naylor & Jeremy P. Smith, 2002. "University of Warwick," Royal Economic Society Annual Conference 2002 9, Royal Economic Society.
- James J. Heckman & Rebecca L. Roselius & Jeffrey A. Smith, 1993. "U.S. Education and Training Policy: A Re-evaluation of the Underlying Assumptions Behind the "New Consensus A Re-evaluation of the Underlying Assumptions Behind the "New Consensus"," Working Papers 9304, Harris School of Public Policy Studies, University of Chicago.
- John Cawley & James Heckman & Edward Vytlacil, 1999. "On Policies To Reward The Value Added By Educators," The Review of Economics and Statistics, MIT Press, vol. 81(4), pages 720-727, November.
When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:7288. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.