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The Economic Value Of Education

Editor

Listed:
  • Mark Blaug

Abstract

This important reference collection – prepared by a leading authority in the field – presents a careful selection of the most important articles and papers in the economics of education. It focuses in particular on the notion of education as investment rather than consumption. This field was pioneered by three American scholars – Jacob Mincer, Gary Becker and Theodore Schultz – who demonstrated that education is indeed a way in which individuals can invest in themselves in the simple sense of incurring financial costs today in order to enhance potential earnings tomorrow. There is a very strong association between education and earnings in the labour markets in both capitalist and communist countries and it is this generalisation that forms the bedrock of the doctrine of education as human capital.

Suggested Citation

  • Mark Blaug (ed.), 1992. "The Economic Value Of Education," Books, Edward Elgar Publishing, number 531.
    • Handle: RePEc:elg:eebook:531
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    File URL: http://www.e-elgar.com/shop/isbn/9781852785420
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    More about this item

    Keywords

    Economics and Finance;

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty

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