Education and Consumption: The Effects of Education in the Household Compared to the Marketplace

Gary Becker and Kevin Murphy

Journal of Human Capital, 2007, vol. 1, issue 1, 9-35

Abstract: This article considers various differences between the effects of education in the marketplace and households. It shows that the household sector rewards skills that are useful at the many tasks that household members must execute, whereas the marketplace rewards skill at specialized tasks. In addition, increased supplies of more educated persons reduce returns to education in the marketplace, whereas if anything, increased supplies raise household returns to education. The greater demand over 40 years for household and market skills may have raised returns to education in households compared to those in the market sector.

Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20)

Downloads: (external link)
http://dx.doi.org/10.1086/524715 (text/html)
Access to the online full text or PDF requires a subscription.

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:ucp:jhucap:v:1:i:1:y:2007:p:9-35

DOI: 10.1086/524715

Access Statistics for this article

More articles in Journal of Human Capital from University of Chicago Press
Bibliographic data for series maintained by Journals Division ().