My Work On Human Capital Began With

Human Capital Analysis Starts With The Assumption That Individuals Decide On Their Education, Training, Medical Care, And Other Additions To Knowledge And Health By Weighing The Benefits And Costs. Benefits Include Cultural And Other Non-monetary Gains Along With Improvement In Earnings And Occupations, While Costs Usually Depend Mainly On The Foregone Value Of The Time Spent On These Investments.

Still, Intuitive Assumptions About Behavior Is Only The Starting Point Of Systematic Analysis, For Alone They Do Not Yield Many Interesting Implications.

Different Constraints Are Decisive For Different Situations, But The Most Fundamental Constraint Is Limited Time.

A Stronger Yuan Could Lead To Greater Chinese Asset Accumulation In The U.s. And Elsewhere.

I Was Not Sympathetic To The Assumption That Criminals Had Radically Different Motivations From Everyone Else.