According to Economists Capital Refers To
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Parental Socioeconomic Status, Child Health, and Human Capital Janet
Parental Socioeconomic Status, Child Health, and Human Capital Janet Currie and Joshua Goodman ABSTRACT Parental socioeconomic status (SES) may affect a child’s educational outcomes through a number of pathways, one of which is the child’s health. This essay asks two questions: What evidence exists about the effect of parental SES on child health? And, what evidence exists about the effect of child health on future outcomes, such as education? We conclude that there is strong evidence of both links. Introduction Investments in education pay off in the form of higher future earnings, and differences in educational attainments explain a significant fraction of the adult variation in wages, incomes, and other outcomes. But what determines a child’s educational success? Most studies point to family background as the primary factor. But why does background matter? While many aspects are no doubt important, research increasingly implicates health as a potentially major factor. The importance of health for education and earnings suggests that if family background affects child health, then poor child health may in turn affect education and future economic status. What evidence exists about the effect of parental socioeconomic status (SES) on child health? And, what evidence exists about the effect of child health on future outcomes, such as education? A great deal of evidence shows that low SES in childhood is related to poorer future adult health (Davey Smith et al., 1998). The specific question at the heart of this review is whether low parental SES affects future outcomes through its effects on child health. In most of the studies cited, SES is defined by parental income or poverty status, though some measure SES through residential neighborhood or parental schooling attainment. -
Investing in Yourself: an Economic Approach to Education Decisions
PAGE ONE Economics the back story on front page economics NEWSLETTER February I 2013 Investing in Yourself: An Economic Approach to Education Decisions Scott A. Wolla, Senior Economic Education Specialist “When I travel around the country, meeting with students, business people, and others interested in the economy, I am occasionally asked for investment advice…I know the answer to the question and I will share it with you today: Education is the best investment.” —Federal Reserve Chairman Ben S. Bernanke, September 24, 20071 One of the most important investment decisions you will ever make is the decision to invest in yourself. You might think that investment is only about buying stocks and bonds, but let’s take a step back and consider investment a little differently. Economists use the word investment to refer to spending on capital, which can be either physical capital (tools and equipment) or human capital (education and training). Let’s briefly look at each type. Investing in Physical Capital A firm invests in itself by buying capital that it uses to improve what it does. In other words, it invests in physical capital to earn higher profits in the future. For example, a firm might invest in new technology to increase the productivity of its employees. The increased productivity raises future revenue (income earned by the firm) and profits (revenue minus costs of production). Seems like an easy decision, right? Well, before a firm invests in physical capital, it must consider three very important points. First, a firm invests in technology now with the expectation that it will lead to higher revenue and expected profits in the future. -
Relationship Between Unemployment and Human Capital
Journal of Resources Development and Management - An Open Access International Journal Vol.3 2014 Relationship Between Unemployment and Human Capital Samiullah National University of Modern Languages Islamabad. [email protected] Abstract This study investigates the Impact of determinants of Human capital such as health, education, population and life expectancy on unemployment in case of Pakistan over the period 1981-2010. The prime objective of the study is to identify and establish a link between human capital and unemployment. The Johansen co-integration approach is used to determine the long-run relationship among variables. Further it applied VECM for short run adjustments to achieve equilibrium in long-run. The results show that our independent variables have significant and strong impact on the dependent variables in long run. The research also provides some suggestions for the policy purpose to reduce the unemployment in the country. Keywords : Unemployment, Human capital 1. Introduction Unemployment is one of the major problems in approximately all countries of the world. It has been the most constant problem which is facing by all developed as well as developing countries. Unemployment is defined as the situation of being out of labor or having no job. It is also define as number of people searching work but they are not able to find the job but they are able to work. Those People are not included in unemployed group who willingly do not work. For developing countries striking increase in the level of unemployment is a particular problem and but in advance countries its general problem. A number of social evils are link with high growth of unemployment, for example unemployment increases suicides, crimes, and poverty rates. -
Human Capital and Economic Development: a Macroeconomic Assessment
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Gundlach, Erich Working Paper Human capital and economic development: A macroeconomic assessment Kiel Working Paper, No. 778 Provided in Cooperation with: Kiel Institute for the World Economy (IfW) Suggested Citation: Gundlach, Erich (1996) : Human capital and economic development: A macroeconomic assessment, Kiel Working Paper, No. 778, Kiel Institute of World Economics (IfW), Kiel This Version is available at: http://hdl.handle.net/10419/920 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Kiel Institute of World Economics Düsternbrooker Weg 120, D-24105 Kiel Department IV Working Paper No. 778 HUMAN CAPITAL AND ECONOMIC DEVELOPMENT: A Macroeconomic Assessment by Erich Gundlach November 1996 The authors themselves, not the Kiel Institute of World Economics, are responsible for the contents and distribution of Kiel Working Papers. -
Human Capital
Human Capital Claudia Goldin Contents Human Capital and History ...................................................................... 56 What Is Human Capital? ..................................................................... 56 Why the Study of Human Capital Is Inherently Historical .................................. 57 Human Capital and Economic Growth .......................................................... 59 Human Capital and Economic Performance in the Long Run: Escaping Malthus ......... 59 Human Capital, Institutions, and Economic Growth ........................................ 62 Producing Human Capital: Education and Training ............................................ 64 The Rise of Formal Education and the Role of the State . ... ............................... 64 Formal Schooling in Europe and America ................................................... 64 Why Invest in Education or Training? ....................................................... 70 Role of the State in Education ................................................................ 71 Why Education Levels Increased ............................................................ 73 Race Between Education and Technology ................................................... 76 Human Capital and Education: Concluding Remarks ....................................... 77 Producing Human Capital: Health ............................................................... 78 Health Human Capital and Income .......................................................... 78 Measures -
Capital Maintenance Concepts in Fair Value
Josipa Mrša, University of Rijeka, Faculty of Economics, Rijeka, Croatia Davor Mance, University of Rijeka, Faculty of Economics, Rijeka, Croatia Davor Vašiček, University of Rijeka, Faculty of Economics, Rijeka, Croatia CONCEPTS OF CAPITAL MAINTENANCE IN FAIR VALUE ACCOUNTING Abstract One of the most important information given by accounting is the one concerning company value and the value of its assets, liabilities and equity. The concept of capital maintenance is concerned with how an enterprise defines the capital that it seeks to maintain in profit determination. The concept of fair value accounting is concerned with the valuation of assets, liabilities, and equity based on market values or its closest substitutes. As only inflows in excess of the amounts needed to preserve the capital may be regarded as profit, the choice of the capital maintenance measurement basis influences the residual amount, i.e. the profit, and consequently, the decision-making process. Currently, there are two basic capital maintenance concepts: financial capital maintenance concept and physical capital maintenance concept, each with many variants. Different valuation concepts are not commensurate with any of the theoretical variants of capital maintenance. Keywords: Capital maintenance concepts, fair value accounting, company value, valuation methods, measurement basis. 1. Introduction Modern accounting recognizes several valuation methods and basis of measurement, other than historical cost, that are more closely related to the acceptable economic value at the time of valuation. Currently, there are some nine different valuation methods across the IASs and IFRSs derived from the four basic measurement basis employed in the IASs and IFRSs: historical cost, current cost, realisable (settlement) value, and present value. -
Interrelationships Between Social and Human Capital, and Economic Growth
Munich Personal RePEc Archive Interrelationships between Social and human Capital, and Economic Growth Dinda, Soumyananda University of Burdwan, India 2016 Online at https://mpra.ub.uni-muenchen.de/89646/ MPRA Paper No. 89646, posted 27 Oct 2018 07:40 UTC Interrelationships between Social and human Capital, and Economic Growth SoumyanandaDinda Department of Economics, University of Burdwan, India This paper is based on initial draft of my paper published as ‘Social Capital and Economic Growth’, in Sherman Folland and Eric Nauenberg edited book: Elgar Companion to Social Capital and Health, Chapter 18, p276-300. Edward Elgar Publishing, Canada. 2017 Abstract This study focuses on economic growth and explains the interaction mechanism of economic agents and their relations. This paper highlights human capital and its social aspects. It also shows some critical aspect in the process of economic growth through interaction of socio- economic factors, which are considered as investment for creation of human capital. This investment includes cost of time and effort, which actually build up social fabric and human knowledge and health capital, which in turn creates economic growth. Root of economic growth actually depends on human capital under social relations. Keywords: Social Capital, Human Capital, Trust, Social structure, Norms, Regulation, Economic Growth, Social Capital Formation, Health Capital, Bonding Social Capital, Linking capital, 1. Introduction The classical economists identified land, labour and physical capital as three basic factors shaping economic growth. Traditionally economic literature has focused more on human capital or labour and physical capital as key determinants of economic growth; theoretical and empirical literature has examined these relationships (Solow 1956, 1957, Lucas 1988, Barro and Sala-i-Martin 1995). -
The Falling Rate of Profit Thesis Reassessed: Owart D a Sociology of Marx’S Value Theory of Labor
University of Tennessee, Knoxville TRACE: Tennessee Research and Creative Exchange Masters Theses Graduate School 8-2007 The Falling Rate of Profit Thesis Reassessed: owarT d a Sociology of Marx’s Value Theory of Labor John Hamilton Bradford University of Tennessee - Knoxville Follow this and additional works at: https://trace.tennessee.edu/utk_gradthes Part of the Sociology Commons Recommended Citation Bradford, John Hamilton, "The Falling Rate of Profit Thesis Reassessed: owarT d a Sociology of Marx’s Value Theory of Labor. " Master's Thesis, University of Tennessee, 2007. https://trace.tennessee.edu/utk_gradthes/261 This Thesis is brought to you for free and open access by the Graduate School at TRACE: Tennessee Research and Creative Exchange. It has been accepted for inclusion in Masters Theses by an authorized administrator of TRACE: Tennessee Research and Creative Exchange. For more information, please contact [email protected]. To the Graduate Council: I am submitting herewith a thesis written by John Hamilton Bradford entitled "The Falling Rate of Profit Thesis Reassessed: owarT d a Sociology of Marx’s Value Theory of Labor." I have examined the final electronic copy of this thesis for form and content and recommend that it be accepted in partial fulfillment of the equirr ements for the degree of Master of Arts, with a major in Sociology. Harry F. Dahms, Major Professor We have read this thesis and recommend its acceptance: Stephanie Ann Bohon, Robert Gorman Accepted for the Council: Carolyn R. Hodges Vice Provost and Dean of the Graduate School (Original signatures are on file with official studentecor r ds.) To the Graduate Council: I am submitting herewith a thesis written by John Hamilton Bradford entitled “The Falling Rate of Profit Thesis Reassessed: Toward a Sociology of Marx’s Value Theory of Labor.” I have examined the final electronic copy of this thesis for form and content and recommend that it be accepted in partial fulfillment of the requirements for the degree of Master of Arts, with a major in Sociology. -
Economic Evaluation Glossary of Terms
Economic Evaluation Glossary of Terms A Attributable fraction: indirect health expenditures associated with a given diagnosis through other diseases or conditions (Prevented fraction: indicates the proportion of an outcome averted by the presence of an exposure that decreases the likelihood of the outcome; indicates the number or proportion of an outcome prevented by the “exposure”) Average cost: total resource cost, including all support and overhead costs, divided by the total units of output B Benefit-cost analysis (BCA): (or cost-benefit analysis) a type of economic analysis in which all costs and benefits are converted into monetary (dollar) values and results are expressed as either the net present value or the dollars of benefits per dollars expended Benefit-cost ratio: a mathematical comparison of the benefits divided by the costs of a project or intervention. When the benefit-cost ratio is greater than 1, benefits exceed costs C Comorbidity: presence of one or more serious conditions in addition to the primary disease or disorder Cost analysis: the process of estimating the cost of prevention activities; also called cost identification, programmatic cost analysis, cost outcome analysis, cost minimization analysis, or cost consequence analysis Cost effectiveness analysis (CEA): an economic analysis in which all costs are related to a single, common effect. Results are usually stated as additional cost expended per additional health outcome achieved. Results can be categorized as average cost-effectiveness, marginal cost-effectiveness, -
Human Capital Risk, Contract Enforcement, and the Macroeconomy
Human Capital Risk, Contract Enforcement, and the Macroeconomy Tom Krebs, Moritz Kuhn, and Mark L. J. Wright October 2014 Federal Reserve Bank of Chicago Reserve Federal WP 2014-09 Human Capital Risk, Contract Enforcement, and the Macroeconomy∗ Tom Krebs University of Mannheim† Moritz Kuhn University of Bonn Mark L. J. Wright FRB Chicago and NBER October 2014 Abstract We use data from the Survey of Consumer Finance and Survey of Income Program Participation to show that young households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable macroeconomic model with human capital risk, age-dependent returns to human capital investment, and endogenous borrowing constraints due to the limited pledgeability of human capital (limited contract enforcement). We show analytically that, consistent with the life insurance data, in equilibrium young households are borrowing constrained and under-insured against human capital risk. A calibrated version of the model can quantitatively account for the life-cycle variation of life-insurance holdings, financial wealth, earnings, and consumption inequality observed in the US data. Our analysis implies that a reform that makes consumer bankruptcy more costly, like the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, leads to a substantial increase in the volume of both credit and insurance. Keywords: Human Capital Risk, Limited Enforcement, Life Insurance JEL Codes: E21, E24, D52, J24 ∗We thank seminar participants at various institutions and conferences for useful comments. We especially thank the editor and three referees for many suggestions and insightful comments. Tom Krebs thanks the German Research Foundation for support under grant KR3564/2-1. -
Literature Review on Human Capital and Economic Growth
Human Capital and Economic Growth Draft 6.0, 4 September 2016 Public Disclosure Authorized Contents 1. Introduction .............................................................................................................................................. 1 2. Human capital and conflict ....................................................................................................................... 2 3. Returns to human capital: a review of the microeconomic literature ..................................................... 3 3.1. Human capital theory ........................................................................................................................ 3 3.2. Empirical evidence ............................................................................................................................. 4 3.2.1. Individual returns to education .................................................................................................. 4 3.2.2. Social returns to education ......................................................................................................... 6 Public Disclosure Authorized 4. Human capital and growth: a review of the macroeconomic literature .................................................. 8 4.1. Neo-classical (or Solow) growth model ............................................................................................. 8 4.2. Endogenous growth model ................................................................................................................ 8 4.2. -
1 Strange Food, Paper Alexandra Halasz Dartmouth College
Strange Food, Paper Alexandra Halasz Dartmouth College [email protected] for I did but seal once to a thing and I was never mine own man since 2 Henry VI 4.2.76 I. In Shakespeare’s 2 Henry VI, Jack Cade responds affirmatively to his fellow rebel’s suggestion that they ‘kill all the lawyers’ by offering a metamorphic emblem of materiality and historicity: Is not this a lamentable thing that the skin of an innocent lamb should be made parchment, that parchment, being scribbled o’er, should undo a man? Some say the bee stings, but I say, ’tis the bee’s wax, for I did but seal once to a thing and I was never mine own man since (4.2.72-6). Creatures and the things they make or become are bound in a process of continual displacement. Jack himself is displaced by a past act of ‘seal[ing] once to a thing’. The past act, moreover, is unfinished, for it is one in which the making of a mark on some thing obligates the actor to a stipulated future. The ‘thing’ and the man thus cross into each other in the unfolding of time.1In a recent essay, Julian Yates argues that the ‘skin 1 I quote from the Arden edition, King Henry VI, Part 2, ed. by Ronald Knowles (Surrey: Thomas Nelson and Sons, 1999). The crossing is explicit in the textual history of the speech: parchment acquires motive force when the quarto’s line, ‘Why ist not a miserable thing that of the skin of an innocent lamb should parchment be made,& then with a litle blotting over with ink, a man should undo himselfe’ becomes the 1 of an innocent lamb’ Cade invokes at the beginning