Gary S. Becker on Human Capital - Dictionary of Arguments
Mause I 510f
Human Capital/Becker: The homogeneity of the factor labor is dissolved into a new inhomogeneity (Becker 1992, 1993a, b.) (1)(2). Demanders for human capital, as well as demanders for other forms of capital and for the production factors work and land, are companies, the state and other employers. The core of human capital theory is the view that human capital increases the productivity of an actor and that increased productivity results in higher income for the actor and growth of the economy as a whole.
Question: how is the amount of human capital and its overall economic impact determined?
Solution: Comparison of costs and benefits of education expenditure.
Narrow view: Investments in human capital are only those actions that will increase productivity in the future.
Individual: an individual's human capital stock is the stock of productive skills and abilities that result in a flow of income.
VsHuman Capital/VsBecker: the concept of human capital was criticized as inhuman after its introduction. In Germany, it was named "Un-word of the Year" in 2004. (3)
Nowadays this rejection is overcome.
1. Gary S. Becker, Menschliches Dasein aus ökonomischer Sicht. Nobel-Lesung vom 9. Dezember 1992. In Die Nobelpreisträger der ökonomischen Wissenschaft, Hrsg. Karl-Dieter Grüske, Bd. III, 206– 236. Düsseldorf 1992
2. Gary. S. Becker 1993Human capital. A theoretical and empirical analysis with special references to education, 3.ed. Chicago: NBER.
3. Jury Unwort des Jahres. 2004. Generelle Stellungnahme zum Unwort des Jahres „Humankapital“. http:// www. unwortdesjahres. net/ index. php? id = 18._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
|Becker, Gary S.
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