Human Capital is Becker's classic study of how investment in an individual's education and training is similar to business investments in equipment. Recipient of the 1992 Nobel Prize in Economic Science, Gary S. Becker is a pioneer of applying economic analysis to human behavior in such areas as discrimination, marriage, family relations, and education. Becker's research on human capital was considered by the Nobel committee to be his most noteworthy contribution to economics.This expanded edition includes four new chapters, covering recent ideas about human capital, fertility and economic growth, the division of labor, economic considerations within the family, and inequality in earnings."Critics have charged that Mr. Becker's style of thinking reduces humans to economic entities. Nothing could be further from the truth. Mr. Becker gives people credit for having the power to reason and seek out their own best destiny."—Wall Street Journal

Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education

Business & Money

Becker, Gary Stanley

Job Hunting & Careers

University of Chicago Press

Others might have called this book Micro Theory or Price Theory. Becker's choice of Economic Theory as the title for his book reflects his deep belief that there is only one kind of economic theory, not separate theories for micro problems, macro problems, non-market decisions, and so on. Indeed, as he notes, the most promising development in recent years in the literature on large scale economic problems such as unemployment has been the increasing reliance on utility maximization, a concept generally identified with microeconomics. Microeconomics is the subject matter of this volume, but it is emphatically not confined to microeconomics in the literal sense of micro units like firms or households. Becker's main interest is in market behavior of aggregations of firms and households. Although important inferences are drawn about individual firms and households, the author tries to understand aggregate responses to changes in basic economic parameters like tax rates, tariff schedules, technology, or antitrust provisions. His discussion is related to the market sector in industrialized economies, but the principles developed are applied to other sectors and different kinds of choices. Becker argues that economic analysis is essential to understand much of the behavior traditionally studied by sociologists, anthropologists, and other social scientists. The broad definition of economics in terms of scarce means and competing ends is taken seriously and should be a source of pride to economists since it provides insights into a wide variety of problems. Practically all statements proved mathematically are also provided geometrically or verbally in the body of the text.

Economic Theory

Economics

Mcgraw-Hill College

Twenty-six essays in this volume showcase the brilliant originality and range of economic thought that earned Hoover Institution senior fellow Gary S. Becker the Nobel Prize in 1992 and corroborate his reputation as the leading figure in unconventional economics. This, the first published collection of Becker's papers, presents an overview of the fundamental theories and unorthodox applications that inspired Milton Friedman to call Becker "one of the most creative economists of our generation." Becker's significant contributions evolve from an economic approach to analyzing social issues that ranges beyond those usually considered by economists. By questioning assumptions taken for granted in most economic modeling, Becker sheds new light on previously unconnected and poorly understood social phenomena. Becker's findings not only shift huge problems that other social scientists once considered immovable but also stand up to empirical challenge. His singular axiom - that all actors in the social game are economic persons who maximize their advantages in different cost situations - allows Becker to study persistent racial and sexual discrimination, investment in human capital, crime and punishment, marriage and divorce, the family, drug addiction, and other apparently noneconomic dimensions of society. The essays presented here capture Becker's innovative analyses of these topics and include the text of his Nobel lecture, a personal assessment of his contributions to the profession.

The Essence of Becker (Hoover Institution Press Publication)

Business Culture

Hoover Inst Pr

Essays in the economics of crime and punishment (Human behavior and social institutions)

National Bureau of Economic Re

Human Capital is Becker's classic study of how investment in an individual's education and training is similar to business investments in equipment. Recipient of the 1992 Nobel Prize in Economic Science, Gary S. Becker is a pioneer of applying economic analysis to human behavior in such areas as discrimination, marriage, family relations, and education. Becker's research on human capital was considered by the Nobel committee to be his most noteworthy contribution to economics. This expanded edition includes four new chapters, covering recent ideas about human capital, fertility and economic growth, the division of labor, economic considerations within the family, and inequality in earnings. "Critics have charged that Mr. Becker's style of thinking reduces humans to economic entities. Nothing could be further from the truth. Mr. Becker gives people credit for having the power to reason and seek out their own best destiny."â€”Wall Street Journal

Human capital: A theoretical and empirical analysis, with special reference to education (Human behavior and social institutions)

National Bureau of Economic Research; distributed by Columbia University Press

Transaction Pub

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