Human Capital
Becker's research was fundamental in arguing for the augmentability of human capital. When his research was first introduced it was considered very controversial as some considered it debasing. However, he was able to convince many that individuals make choices of investing in human capital based on rational benefits and cost that include a return on investment as well as a cultural aspect.
His research included the impact of positive and negative habits such as punctuality and alcoholism on human capital. He explored the different rates of return for different people and the resulting macroeconomic implications. He also distinguished between general to specific education and their influence on job-lock and promotions.
Read more about this topic: Gary Becker
Famous quotes containing the words human and/or capital:
“Isn’t Hollywood a dump—in the human sense of the word. A hideous town, pointed up by the insulting gardens of its rich, full of the human spirit at a new low of debasement.”
—F. Scott Fitzgerald (1896–1940)
“Capital as such is not evil; it is its wrong use that is evil. Capital in some form or other will always be needed.”
—Mohandas K. Gandhi (1869–1948)