1996
DOI: 10.3102/00346543066003341
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Human Capital Theory: Foundations of a Field of Inquiry

Abstract: This review of human capital theory begins in 1776 and ends in the 1960s, when the theoretical and empirical foundations of the field were articulated and established. The review is organized to provide a general reference to human capital theory, its historical development, and its major methodological approaches. While human capital research has not been limited to education, it usually includes empirical measures of education and produces results that affect educators and education policy. Review of the fou… Show more

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Cited by 344 publications
(265 citation statements)
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References 12 publications
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“…I used household variables consistent with similar human capital models that suggest that investment in people leads to economic benefits. Types of investment include education, labor skills, years of work experience, or worker's age to approximate experience (Mincer, 1958;Psacharopoulos & Patrinos, 2004;Sweetland, 1996). I included age, gender, educational attainment, marital status, number of children, employment status, citizenship status, and multigenerational households.…”
Section: Existing Studies On Pacific Islander Incomementioning
confidence: 99%
“…I used household variables consistent with similar human capital models that suggest that investment in people leads to economic benefits. Types of investment include education, labor skills, years of work experience, or worker's age to approximate experience (Mincer, 1958;Psacharopoulos & Patrinos, 2004;Sweetland, 1996). I included age, gender, educational attainment, marital status, number of children, employment status, citizenship status, and multigenerational households.…”
Section: Existing Studies On Pacific Islander Incomementioning
confidence: 99%
“…Literature on human capital theory identifies different types and/ or means of education and these are formal education (primary, secondary and higher levels of education), non-formal education, on the job training and specialized vocational education (Becker, 1964). Human capital theory thus suggests that individuals and society derive economic benefits from investing in people primarily through education (Sweetland, 1996). According to Boissiere (2004), education is the cornerstone of economic growth and social development, and primary education provides the foundation for secondary and tertiary education and training, and lays the foundation for a more productive labor force through promoting literacy and numeracy.…”
Section: Theoretical Frameworkmentioning
confidence: 99%
“…For example, in the coastal southern Tanzanian region where this study was conducted, 95.9% of children had enrolled in primary school (Samji, 2010). According to human capital theory, more educational attainment leads to increased benefits such as better health and more earned income (Sweetland, 1996). In the ideal educational setting, teachers work with their students to develop a skillset that is also applicable in their life outside of school and in their jobs back at home, which in rural areas of Tanzania is farming.…”
Section: Why Do Tanzanian Youth Drop Out From School?mentioning
confidence: 99%