Esthetic Professor Logo
LOG IN Sign Up
Home Master Series Course List Testimonials Instructors Blog Contact
Esthetic Professor LogoHome Master Series Course List Testimonials Instructors Blog Contact My Courses

Esthetic Professor

Economics of education

Profile Photo Malinda McHenry
Founder

It has been argued that high rates of education are essential for countries to be able to achieve high levels of economic growth. Empirical analyses tend to support the theoretical prediction that poor countries should grow faster than rich countries because they can adopt cutting edge technologies already tried and tested by rich countries. However, technology transfer requires knowledgeable managers and engineers who are able to operate new machines or production practices borrowed from the leader in order to close the gap through imitation. Therefore, a country’s ability to learn from the leader is a function of its stock of “human capital”. Recent study of the determinants of aggregate economic growth have stressed the importance of fundamental economic institutions and the role of cognitive skills.

At the level of the individual, there is a large literature, generally related to the work of Jacob Mincer, on how earnings are related to the schooling and other human capital. This work has motivated a large number of studies, but is also controversial. The chief controversies revolve around how to interpret the impact of schooling.Some students who have indicated a high potential for learning, by testing with a high intelligence quotient, may not achieve their full academic potential, due to financial difficulties.

Economists Samuel Bowles and Herbert Gintis argued in 1976 that there was a fundamental conflict in American schooling between the egalitarian goal of democratic participation and the inequalities implied by the continued profitability of capitalist production.

Recent Posts

  • YouTube Can’t Certify YOU!
  • Economics of education
  • Educational psychology
  • Be the best you can be
  • Learn to enjoy every minute

Archives

  • October 2019
  • February 2017

Instructors

Profile Photo Malinda McHenry
Founder
Profile Photo Tony Picciano
Profile Photo Patricia Picciano RN
Neurotris Education Director
By using our website, you agree to our Privacy Policy
Policies Privacy Policy Requirements to Participate Code of Conduct
About Become A Teacher Host a Course Blog Galleries FAQs
Policies Privacy Policy Requirements to Participate Code of Conduct
info@estheticprofessor.com (913) 291-2424 7092 W 105th Street Overland Park Kansas 66212

Return to top of page