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Challenging the Human Capital Orthodoxy: The Education‐Productivity Link Re‐examined

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  • L.R. MAGLEN

Abstract

The human capital orthodoxy has it that education is an investment, not only for the individual undertaking it but also for society when it devotes scarce resources to it The return to society on that investment is seen mainly in terms of the enhanced productive contribution made by more‐educated workers. The measure of that greater contribution most often used by economists is the extra earnings the more‐educated on average receive This paper re‐examines the available evidence of links between education and productivity (and between earnings and productivity) and finds it to be inconclusive.

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  • L.R. Maglen, 1990. "Challenging the Human Capital Orthodoxy: The Education‐Productivity Link Re‐examined," The Economic Record, The Economic Society of Australia, vol. 66(4), pages 281-294, December.
    • Handle: RePEc:bla:ecorec:v:66:y:1990:i:4:p:281-294
    DOI: 10.1111/j.1475-4932.1990.tb01734.x
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    2. Sue O'Keefe & Lin Crase, 2007. "Public sector workers' willingness to pay for education and training: a comparison," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 10(4), pages 279-294.
    3. Malcolm Abbott, 2004. "Regulation of Tertiary Education," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 11(3), pages 223-234.
    4. Chong, Woon Kian & Chang, Chiachi, 2024. "Information exploitation of human resource data with persistent homology," Journal of Business Research, Elsevier, vol. 172(C).

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