The Mystery of Human Capital as Engine of Growth, Or why the U.S. Became the Economic Superpower in the 20th Century

The Mystery of Human Capital as Engine of Growth, Or why the U.S. Became the Economic Superpower in the 20th Century

Author: Isaac Ehrlich

Publisher:

Published: 2007

Total Pages: 48

ISBN-13:

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This paper offers a thesis as to why the US overtook the UK and other European countries in the 20th century in both aggregate and per-capita GDP, as a case study of recent models of endogenous growth where human capital is the "engine of growth". The conjecture is that the ascendancy of the US as an economic superpower owes in large measure to its relatively faster human capital formation. Whether the thesis has legs to stand on is assessed through stylized facts indicating that the US led other OECD countries in schooling attainments per adult population over the 20 century, especially at the secondary and tertiary levels. While human capital is viewed as the direct facilitator of growth, the underlying factors driving the US ascendancy are linked to the superior returns the political-economic system in the US has so far offered individual human capital attainments, both home-produced and imported.


The Mystery of Capital and the Construction of Social Reality

The Mystery of Capital and the Construction of Social Reality

Author: Barry Smith

Publisher: Open Court

Published: 2015-11-05

Total Pages: 385

ISBN-13: 0812699335

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John Searle’s The Construction of Social Reality and Hernando de Soto’s The Mystery of Capital shifted the focus of current thought on capital and economic development to the cultural and conceptual ideas that underpin market economies and that are taken for granted in developed nations. This collection of essays assembles 21 philosophers, economists, and political scientists to help readers understand these exciting new theories.


Human Capital and Development

Human Capital and Development

Author: Ju-Ho Lee

Publisher: Edward Elgar Publishing

Published:

Total Pages: 431

ISBN-13: 1786436973

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During recent decades, Korea has been one of only a handful of countries that have made the successful transformation to become a developed nation by simultaneously achieving persistent economic growth combined with a democratic political system. Experts and political leaders worldwide have attributed this achievement to investments in people or, in other words, the power of education. Whilst numerous books have highlighted the role of industrial policies, technological growth, and international trade in Korea’s development process, this is one of the first to focus on the role of human capital. It shows how the accumulation of human capital aided transformation and helps explain the policies, strategies and challenges that Korea faces now and in the future.


The Knowledge Capital of Nations

The Knowledge Capital of Nations

Author: Eric A. Hanushek

Publisher: MIT Press

Published: 2023-08-15

Total Pages: 275

ISBN-13: 026254895X

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A rigorous, pathbreaking analysis demonstrating that a country's prosperity is directly related in the long run to the skills of its population. In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country's development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann argue that message has become distorted, with politicians and researchers concentrating not on valued skills but on proxies for them. The common focus is on school attainment, although time in school provides a very misleading picture of how skills enter into development. Hanushek and Woessmann contend that the cognitive skills of the population—which they term the “knowledge capital” of a nation—are essential to long-run prosperity. Hanushek and Woessmann subject their hypotheses about the relationship between cognitive skills (as consistently measured by international student assessments) and economic growth to a series of tests, including alternate specifications, different subsets of countries, and econometric analysis of causal interpretations. They find that their main results are remarkably robust, and equally applicable to developing and developed countries. They demonstrate, for example, that the “Latin American growth puzzle” and the “East Asian miracle” can be explained by these regions' knowledge capital. Turning to the policy implications of their argument, they call for an education system that develops effective accountability, promotes choice and competition, and provides direct rewards for good performance.


International Handbook of Comparative Large-Scale Studies in Education

International Handbook of Comparative Large-Scale Studies in Education

Author: Trude Nilsen

Publisher: Springer Nature

Published: 2022-09-21

Total Pages: 1518

ISBN-13: 3030881784

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This handbook is the first of its kind to provide a general and comprehensive overview of virtually every aspect of International Large Scale Assessment (ILSA). It includes historical, economic, and policy perspectives, theoretical foundations, methodology, and reviews of findings from analyses of ILSA data. After decades, during which ILSAs have generated knowledge within central areas of education research and gained increased and substantial impact on educational policy, practice and research, such a broad overview for a wide-ranging audience is much needed. With contributions from authors and editors from all continents, this handbook appeals to an international audience and keeps a neutral perspective, not favoring one ILSA over another. The handbook is suitable to be read by politicians, researchers and stakeholders who are seeking an overview of ILSAs, their history and development, and both potential benefits and limitations with regard to policy implications. The reviews of findings from studies analyzing ILSA data will be of interest to stakeholders, teachers, researchers, and policymakers. Considering that the reviews extend to all fields pertaining to educational research, the book will be valuable to all researchers interested in education. Students may use the book to learn about ILSAs in the context of policy, theoretical underpinnings, or research. Moreover, the methodology section is written in a manner that is understandable and accessible for students, stakeholders, or researchers not familiar with these data. This methodology part, however, is also a valuable resource for researchers who are familiar with ILSA data, as it provides overviews of the design and sampling procedures of several ILSAs, and includes advice on methods of analysis.Even the owners of the ILSAs may find the book valuable, as it contains overviews and insights into a number of ILSAs, provides information how the data is used by the research community, and includes recommendations for future instruments.


Thirty Tomorrows

Thirty Tomorrows

Author: Milton Ezrati

Publisher: Macmillan

Published: 2014-04-08

Total Pages: 353

ISBN-13: 1250042550

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Explains how aging populations in the developed world are threatening the American way of life, offering advice on how to positively and profitably respond to key changes in labor, production, and labor-management relations.


Current Debates in Social Sciences 2021

Current Debates in Social Sciences 2021

Author: Abidin Çevik

Publisher: IJOPEC PUBLICATION

Published: 2021-09-20

Total Pages: 436

ISBN-13: 1913809250

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The book, entitled “Current Debates in Social Sciences 2021”, aims to make contributions both to academic world, namely to the literature of economics, philosophy, linguistics and history and to real world through the formation of national economic policies in various aspects. The book is designed to examine economics, philosophy, linguistics and history from different perspectives. For this aim, 29 scholars, 3 editors and the precious employees of IJOPEC Publications came together and published this book. In all chapters, current issues are tried to be examined through stateof- the-art econometric approaches, economic theory and rigorous analysis. Like any other books, the process was toilsome and demanding but the aim is divine: to contribute to the literature. Consequently, any academician, or practitioner who is interested in economics, philisophy, linguistics and history would benefit from the book.


Education in Turkey

Education in Turkey

Author: Arnd-Michael Nohl

Publisher: Waxmann Verlag

Published: 2008

Total Pages: 304

ISBN-13: 3830970692

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This book represents a major study of the development and present state of education in Turkey. Turkey offers a unique context for studying education because of the tensions that exist between secularization and Islam, top-down social engineering and democratization, and economic growth and social justice. Education in Turkey brings together some of the leading educationalists in Turkey, as well as a number of scholars from other disciplines. The topics covered include the development and structure of primary, secondary, vocational and adult education, the role of education in shaping citizenship and national identity, human capital, economic growth and educational inequalities. This significant volume will be of particular interest to policy makers as well as researchers and students in education, economics, politics, and Turkish studies.


The Smart Society

The Smart Society

Author: Peter Salins

Publisher: Encounter Books

Published: 2014-02-11

Total Pages: 322

ISBN-13: 1594037000

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The Smart Society offers a detailed blueprint for how the United States can recast its human capital policies to make all Americans—not just a privileged elite—smarter and more successful than ever before, at the same time stemming the size and cost of the nation's "safety net." The spectacular, centuries-long success of the United States is based on its having determined, early on, to be a smart country, single-mindedly developing institutions and practices that enabled its native born citizens to maximize their economic and social potential, and welcoming opportunity-seeking foreigners to join them. Over the last four decades, however, the vaunted United States human capital machine has been breaking down, dimming the economic and social prospects of millions of Americans. If The Smart Society blueprint is followed, these trends can be reversed and the nation and its people can quickly regain their preeminence in the hyper-competitive and globalized world of the 21st century. This is a most topical issue today because the country's current heated political disagreements are not just about the proper size of government, but about how the United States can reverse its apparent decline and restore its historic economic and social vigor—in other words, regain its place as the world’s “smartest” nation.