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Cited by 2,222

The DOI matches its Crossref record.

INVESTMENT IN HUMANS, TECHNOLOGICAL DIFFUSION, AND ECONOMIC GROWTH

Phelps, Edmund S.·1980·Studies in Macroeconomic Theory
DOI 10.1016/b978-0-12-554002-5.50015-7
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Abstract

Most economic theorists have embraced the principle that certain kinds of education—the three R's, vocational training, and higher education—equip a man to perform certain jobs or functions, or enable a man to perform a given function more effectively. The principle seems a sound one. Underlying it, perhaps, is the theory that education enhances one's ability to receive, decode, and understand information, and that information processing and interpretation is important for performing or learning to perform many jobs. This chapter focuses on the economic growth theory, which has concentrated on the role of education as it relates to the completely routinized job. In its usual, rather general form, the theory postulates a production function which states how maximum current output depends upon the current services of tangible capital goods, the current number of men performing each of these jobs, the current educational attainments of each of these jobholders and time.

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Metadata

Authors
Phelps, E. S.
Venue
Studies in Macroeconomic Theory
Publisher
Elsevier
Published
1980
Pages
133-139
DOI
10.1016/b978-0-12-554002-5.50015-7
OpenAlex
W1563358119
Cited by
2,222
References
0
FWCI
17.05
Type
book chapter
Language
en
Open access
closed

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.