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Integrating Human Capital and Human Capabilities in Understanding the Value of Education

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  • Chiappero-Martinetti, Enrica
  • Sabadash, Anna

Abstract

The aim of this chapter is to investigate the possibility of combining human capital theory and the capability approach in order to better understand and measure both the instrumental and the intrinsic values of education for individuals, and to trace its relative spillover effects on societies. This chapter discusses a combined human capital - capability approach as a possibility for working with a broader information space in assessing the value of education. It presents three integrated sections discussing the role and value of education for human well-being. The first section reviews the most significant attempts to define and measure education from a human capital (HC) perspective. The second is focussed on education and human capabilities and considers those aspects and empirical facts that are not fully encompassed within or justified by the HC perspective. The third section argues that human capital and the capabilities paradigms can complement each other in measuring the value of education, and discusses some methodological challenges and empirical features associated with this combined view.

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  • Chiappero-Martinetti, Enrica & Sabadash, Anna, 2014. "Integrating Human Capital and Human Capabilities in Understanding the Value of Education," MPRA Paper 61800, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:61800
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    Cited by:

    1. Gaur, Diptanshu & Pandey, Shivendra Kumar & Sharma, Dheeraj, 2024. "Inequalities in educational achievement: Effect of individuals’ capabilities & social identity," Journal of Policy Modeling, Elsevier, vol. 46(3), pages 494-513.
    2. Valeria Pandolfini, 2021. "Fostering the professional capital of teachers in digital capabilities," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(12), pages 455-461, December.
    3. Yogesh Ghore & Brad Long & Zeynep Ozkok & Derin Derici, 2023. "Rethinking human capital: Perspectives from women working in the informal economy," Development Policy Review, Overseas Development Institute, vol. 41(5), September.
    4. Eger, Claudia & Miller, Graham & Scarles, Caroline, 2018. "Gender and capacity building: A multi-layered study of empowerment," World Development, Elsevier, vol. 106(C), pages 207-219.

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    More about this item

    Keywords

    education; human capital; capabilties;
    All these keywords.

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • D60 - Microeconomics - - Welfare Economics - - - General
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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