Gary Becker on Human Capital

From the Chicago Graduate School of Business magazine a brief talk with Gary Becker, “one of the first economists to study topics traditionally considered the purview of sociologists including racial discrimination, crime, family organization, and drug addiction. His work on those subjects earned him the Nobel Prize in economic sciences in 1992.”

Becker is big on human capital. He talks about the importance of human capital in organizations. Economists consider human capital to be critical to development of economies. Education is therefore directly implicated in development. Here are a few quotes from Becker. (The Becker-Posner blog is worth reading.)