EconPapers    
Economics at your fingertips  
 

The Mystery of Human Capital as Engine of Growth, or Why the US Became the Economic Superpower in the 20th Century

Isaac Ehrlich ()

No 12868, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper offers a thesis as to why the US overtook the UK and other European countries in the 20th century in both aggregate and per-capita GDP, as a case study of recent models of endogenous growth where human capital is the "engine of growth". The conjecture is that the ascendancy of the US as an economic superpower owes in large measure to its relatively faster human capital formation. Whether the thesis has legs to stand on is assessed through stylized facts indicating that the US led other OECD countries in schooling attainments per adult population over the 20 century, especially at the secondary and tertiary levels. While human capital is viewed as the direct facilitator of growth, the underlying factors driving the US ascendancy are linked to the superior returns the political-economic system in the US has so far offered individual human capital attainments, both home-produced and imported.

JEL-codes: H1 I2 N1 N3 O0 O4 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev and nep-his
Date: 2007-01
Note: HE
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (2) Track citations by RSS feed

Published as "The Mystery of Human Capital as Engine of Growth, or Why the US Became the Economic Superpower in the Twentieth Century." In The Mystery of Capital and the Construction of Social Reality , edited by Barry Smith, David Mark, and Isaac Ehrlich. Chicago: Open Court, 2008.
Published as Isaac Ehrlich, 2009. "The Mystery of Human Capital as Engine of Growth, or Why the US Became the Economic Superpower in the 20th Century," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, vol. 1(56), pages 41-93, October -.

Downloads: (external link)
http://www.nber.org/papers/w12868.pdf (application/pdf)

Related works:
Journal Article: The Mystery of Human Capital as Engine of Growth, or Why the US Became the Economic Superpower in the 20th Century (2009) Downloads
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:nbr:nberwo:12868

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w12868

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().

 
Page updated 2018-07-27
Handle: RePEc:nbr:nberwo:12868