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Human Capital: Returns to entrepreneurs, skills, etc.
A Category Archive (26 entries)
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November 19, 2009
Economics of Health Care
Arnold Kling
Sherry Glied, Ashwin Prabhu, and Norman Edelman do not think so. The value of physicians' underlying human capital is estimated by forecasting an age-earnings profile for doctors based on the characteristics in youth of NLSY cohort participants who subsequently became... MORE
August 30, 2009
Human Capital: Returns to entrepreneurs, skills, etc.
David Henderson
in this 60 Minutes segment. This joyous man, Forrest Bird, celebrates his inventions, his life, his pretty young wife, and his wealth. One of my favorite excerpts: And standing tall among them, all 6'4" of him, is Forrest Bird. His... MORE
July 18, 2008
Human Capital: Returns to entrepreneurs, skills, etc.
Arnold Kling
Two links from Mark Thoma. First, Clive Crook. For decades the educational quality of the US labour force surged. In 1940, less than 5 per cent of the population aged 25-64 had at least a four-year college education. By 2000,... MORE
July 10, 2008
Economics of Education
Arnold Kling
On p. 96 of their new book, Claudia Goldin and Lawrence F. Katz provide a table on the composition of the U.S. labor force in terms of educational background, based on historical census data. The percentage of high school graduates... MORE
July 8, 2008
Human Capital: Returns to entrepreneurs, skills, etc.
Arnold Kling
Clive Crook writes, Younger cohorts are no better educated than these soon-to-retire boomers. Broadly speaking, educational quality has topped out - and on at least one measure, it is actually deteriorating. In 2006, Americans aged 55-59 collectively possessed more masters... MORE
July 2, 2008
Human Capital: Returns to entrepreneurs, skills, etc.
Arnold Kling
I have ordered their new book, after seeing it mentioned in David Leonhardt's column in the New York Times. An excerpt from the book is here. For cohorts born from the 1870s to about 1950, every decade was accompanied by... MORE
January 22, 2008
Human Capital: Returns to entrepreneurs, skills, etc.
Arnold Kling
Betsey Stevenson and Justin Wolfers write So what drives modern marriage? We believe that the answer lies in a shift from the family as a forum for shared production, to shared consumption...the key today is consumption complementarities — activities that... MORE
July 6, 2007
Economic History
Arnold Kling
Gregory Clark writes, Millenia of living in stable societies, under tight Malthusian pressures that rewarded effort, accumulation, and fertility limitation, encouraged the development of cultural forms--in terms of work inputs, time preference, and family formation--which facilitated modern economic growth. This... MORE
April 23, 2007
Economics of Education
Arnold Kling
In the Milken Institute Review, Kevin Lang writes, Is teenage motherhood one of the means by which poverty is passed from generation to generation, or are both teenage motherhood and adult poverty consequences of the same childhood disadvantages? There are... MORE
February 27, 2007
Human Capital: Returns to entrepreneurs, skills, etc.
Arnold Kling
Bryan wrote, When someone asks me what I would do to eliminate poverty in America, the first thing that pops into my head is the need for industry, thrift, and prudence. It seems that he and I share a common... MORE
January 12, 2007
Growth: Causal Factors
Arnold Kling
From my latest essay: As we get wealthier, we also become enhanced physically, cognitively, and morally, leading to a virtuous cycle of improvements to the standard of living. As the economy improves, human cognitive ability and moral reasoning improves, which... MORE
November 17, 2006
Human Capital: Returns to entrepreneurs, skills, etc.
Arnold Kling
Donna K. Ginther and Shulamit Kahn write, Children create a marked divergence between men and women. For science as a whole, the presence of a pre-kindergarten aged child lowers women’s likelihood of having a tenure track job by 8.1 percent.... MORE
July 17, 2006
Human Capital: Returns to entrepreneurs, skills, etc.
Eric Crampton
Giam Petro Cipriano and Angelo Zago find that more attractive students in economics earn higher test scores than their less attractive counterparts, an effect that's magnified rather than attenuated in written exams when compared to oral exams. While a causal... MORE
April 30, 2006
Human Capital: Returns to entrepreneurs, skills, etc.
Bryan Caplan
Economics has hit the big time: The Larry Summers scandal has inspired the best Simpsons episode of the season! Principal Skinner puts his foot in his mouth by talking about the gender gap in mathematical ability, and hilarity ensues. Arguably... MORE
February 12, 2006
Human Capital: Returns to entrepreneurs, skills, etc.
Arnold Kling
Bryan writes, If Arnold's story is right, there wouldn't really be a trap. Some firms are bound to be run by people who value profits more than pride in their alma mater. These firms will do what Arnold recommends: Hire... MORE
February 10, 2006
Human Capital: Returns to entrepreneurs, skills, etc.
Bryan Caplan
Arnold's not too happy about credentialism: I remember hearing a company founder in the Dotcom era saying that he only wanted to hire MBA's from top schools. I thought to myself that this was silly. When you are a start-up,... MORE
February 8, 2006
Human Capital: Returns to entrepreneurs, skills, etc.
Bryan Caplan
Arnold raises a common objection to the signaling model of education: My problem with the signalling model of education is that it suggests that there is a huge unexploited profit opportunity for employers and employees who can come up with... MORE
February 5, 2006
Human Capital: Returns to entrepreneurs, skills, etc.
Bryan Caplan
Gary Becker, Tyler Cowen, and Arnold Kling have all recently criticized the signaling theory of education. If you haven't heard, the signaling theory says that to a significant extent, education does not increase workers' productivity. Instead, the fact that you... MORE
January 15, 2006
Human Capital: Returns to entrepreneurs, skills, etc.
Bryan Caplan
A new paper leads Tyler Cowen to ask: "Are Neighborhood Effects Really Family Effects?" But I'd say he's suffering from what I've called "environmental bias." Since the whole behavioral genetics literature has already found shockingly weak evidence of family effects... MORE
January 3, 2006
Human Capital: Returns to entrepreneurs, skills, etc.
Bryan Caplan
There are a lot of people who take offense at the idea that people have different levels of intelligence - and even at the idea that something called "intelligence" exists. As with most controversial issues, more data is unlikely to... MORE
August 23, 2005
Human Capital: Returns to entrepreneurs, skills, etc.
Bryan Caplan
A Typical Blog rejects my equation of grades and money in my post on pity grading. His main objections, and my replies: 1) 'Merit-based' grades seem to be a lot more merit-based than 'merit-based' wealth. All the students these professors... MORE
June 29, 2005
Labor Market
Arnold Kling
In a comment on the preceding post, Andrew Whitacre, who wrote the original rant, speculates, There are too many smart people for too few smarts-required jobs, just like there've never been enough English professorships for all the English majors who... MORE
Economics of Education
Arnold Kling
This rant struck me, mostly because it is strikingly consistent with my 22-year-old's experience. Dear current Management-Generation of Cubicle Land, please understand that: 1. My generation was misinformed—by elders and fortune—about the value of our college degrees. $120,000 of your/our... MORE
October 20, 2003
Human Capital: Returns to entrepreneurs, skills, etc.
Arnold Kling
Kevin Hassett thinks that stock options are used because they are a form of tax-deferred compensation. It is sensible that the tax code encourages equity compensation. Shareholders benefit when management has a significant stake in the appreciation of a firm's... MORE
September 23, 2003
Human Capital: Returns to entrepreneurs, skills, etc.
Arnold Kling
Two interesting articles in the latest Journal of Economic Perspectives. Lucien A. Bebchuk and Jesse M. Fried focus on the agency problem. Managers have an interest in compensation schemes that camouflage the extent of their rent extraction or that put... MORE
September 18, 2003
Income Distribution
Arnold Kling
Marc Brazeau asks (see Steve Antler's site), Two common arguments against raising the minimum wage are possible inflationary effects and job loss. Why aren't these issues raised in relation to executive compensation? I think that the conventional wisdom is that... MORE
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