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What Should Be Our Human Capital Investment Policy?
Author(s) -
HECKMAN JAMES
Publication year - 1998
Publication title -
fiscal studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.63
H-Index - 40
eISSN - 1475-5890
pISSN - 0143-5671
DOI - 10.1111/j.1475-5890.1998.tb00279.x
Subject(s) - economics , human capital , earnings , investment (military) , work (physics) , offset (computer science) , inequality , private sector , government (linguistics) , labour economics , public economics , finance , market economy , economic growth , mechanical engineering , mathematical analysis , linguistics , philosophy , mathematics , politics , political science , computer science , law , programming language , engineering
This paper considers the magnitude of the human capital investment required to offset the increase in the inequality in labour earnings in the US economy since 1979. It considers the ineffectiveness of government training policies, the effectiveness of private sector training and the conflict between economic efficiency and the work ethic. It also considers revisions of the tax code. The importance of the distinction between the long view and the short view in analysing human resource policies is emphasised. JEL classification : J24, I28, H40.