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The correlation between education and earnings - a comment

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Abstract

In this note, Blaug's article in Volume 1, No. 1, is criticised on the grounds that the “economic” interpretation of the correlation between education and earnings is based on a mistaken view about the nature of capital; and hence “human capital” theories are logically incoherent.

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References

  • Georgescu-Roegen, N. (1967), “Chamberlin's New Economics and the Unit of Production,” in Kuenue, R.E., ed., Monopolistic Competion Theory: Studies in Impact, New York: Wiley.

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  • Kaldor, N. (1961), “Capital Accumulation and Economic Growth,” in Lutz, F.A., The Theory of Capital, New York: Macmillan.

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  • Robinson, J. (1953), “The Production Function and the Theory of Capital,” Review of Economic Studies, XXI (2): No. 55.

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  1. Higher Education Research Unit, London School of Economics, London, England

    Adam Westoby

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  1. Adam Westoby
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Westoby, A. The correlation between education and earnings - a comment. High Educ 1, 463–468 (1972). https://doi.org/10.1007/BF00136805

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  • DOI: https://doi.org/10.1007/BF00136805

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