Human capital in Marshall’s Social Philosophy

Eduardo Giannetti da Fonseca ()

Brazilian Journal of Political Economy, 1992, vol. 12, issue 2, 223-248

Abstract: How to account for the wide and persistent differentials in per capita productivity in the world economy? From a Marshallian perspective, these differences are related to microeco-nomic factors (e.g. organization) and in particular to per capita investment in human beings as agents of production. Marshall believed that the relative importance of mental vis-à-vis manual labour tended to increase through time; and he held the view that human capital — i.e. the physical, moral and cognitive attributes of workers, professionals and business men — is one of the most important of all inputs in the production function and one of the key elements in the process of organic growth. The aim of this paper is to present Marshall’s theo-retical and normative thinking on the economic role of education and to bring out his pionee-ring contribution to the modern theory of human capital. JEL Classification: B13; B31; I25.

Keywords: History of economic thought; Marshall; human capital; education (search for similar items in EconPapers)
Date: 1992
References: Add references at CitEc
Citations:

Downloads: (external link)
https://centrodeeconomiapolitica.org/repojs/index. ... ticle/view/1415/1401 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:12:y:1992:i:2:p:223-248:id:1415

Access Statistics for this article

More articles in Brazilian Journal of Political Economy from Center of Political Economy
Bibliographic data for series maintained by Brazilian Journal of Political Economy (Brazil) ().