Winners and Losers

2020 ◽  
pp. 67-88
Author(s):  
Phillip Brown
Keyword(s):  
Human Capital ◽  
Social Inequalities ◽  
Knowledge Workers ◽  
Rates Of Return ◽  
The Real ◽  
Orthodox Theory ◽  
Important Form

This chapter asks who wins and who loses in the distribution of credentials, jobs, and wages. Orthodox theorists argue that human capital is the most important form of capital in modern economies, so by investing in education individuals can earn the returns on their rising productivity. This led to the view that knowledge workers would be the key beneficiaries of today’s economy, as they would supersede traditional capitalists as wealth creators. This chapter presents evidence of who have been the real winners and losers in Becker’s “age of human capital.” It shows how rates of return reflect social inequalities in class, gender, and ethnicity. This analysis challenges three key tenets of orthodox theory.

Learning Isn’t Earning

2020 ◽  
pp. 49-66
Author(s):  
Phillip Brown
Keyword(s):  
Human Capital ◽  
The Body ◽  
Capital Investments ◽  
Rates Of Return ◽  
Highly Educated ◽  
Advanced Economies ◽  
Human Capital Investments ◽  
Orthodox Theory ◽  
Investments In Education ◽  
Over Time

This chapter offers a systematic review of the evidence used to support the key claims of orthodox theory. These include the body of literature showing that investment in education and skills has become more valuable over time as technologically advanced economies come to depend on the brainpower of the workforce. To support this view, orthodox theorists typically compare average rates of return between college and non-college students. There are a number of propositions that can be tested to determine if “learning equals earning.” First, wages reflect human capital investments in education. Second, the value of human capital increases over time. Third, learning equals earnings in all countries. Fourth, reward in the labor market is biased toward the most highly educated workers who will attract higher wages.

scholarly journals DETERMINANT RETURN TO EDUCATION IN INDONESIA

2018 ◽  
Vol 17 (1) ◽  
pp. 52 ◽  
Author(s):  
Mukhamad Azhar ◽  
S. Suwatno ◽  
Amir Mahmud
Keyword(s):  
Human Capital ◽  
Human Resources ◽  
School Enrollment ◽  
Return To Education ◽  
Learning Session ◽  
Rates Of Return ◽  
Developed Country ◽  
Returns To Schooling ◽  
Return To Schooling ◽  
Less Developed Country

Badan Pusat Statistik. (2016). Penduduk Berumur 15 Tahun ke Atas yang Bekerja Selama Seminggu yang Lalu Menurut Lapangan Pekerjaan Utama dan Pendidikan Tertinggi yang Ditamatkan. Jakarta: Badan Pusat Statistik.Badan Pusat Statistik.(2016). Keadan Angkatan Kerja Provinsi Banten Agustus 2016. BPS Banten.Becker, Gary S. (1975). Human Capital, A Theoretical and Empirical Analysis with Special Reference to Education, 2nd Edition. Diakses dari http://www.nber.org/Deolalikar, Anil. (1993). Gender Differences in the Returns to Schooling and in School Enrollment Rates in Indonesia. Journal of Human Resources. 28 (4), 899-932[Friedman, Howard S., Schustack, Miriam W. (2008). Kepzribadian Teori Klasik dan Riset Modern. Jakarta: Penerbit Erlangga.Heckman, James J., Lochner, Lance J., dan Todd, Petra E. (2003) Fifty Years of Mincer Earnings aKrueger, Alan B., and Lindahl, Mikael. (2000). Education for Growth: Why and For Whom?. Working Paper No. 7591.Megasari,  Diah Nurulia, (2014). Analisis Tingkat Pengembalian Investasi Pendidikan Antara Laki-Laki Dan Perempuan Di Provinsi Jawa Barat Tahun 2014. Universitas Negeri YogyakartaOECD Stat. Extract. Dzaiakses dari: http://stats.oecd.org, pada 1 April 2015.OECD. (2000). Estimating Economic and Social Returns to Learning: Session 3 Issues for Discussion.Perkins, D.H, Radelet, S, Snograss, R.R, Gillis, M, and Roemer, M. 2001. Economics of Development.WW. Norton & Company, Inc. United States of America.Psacharopoulos, G. 1985. “Returns to education: A further international update andimplication”. The Journal of Human Resources, 20 (4), 583-597.Psacharopoulos, George 1994 “Returns to Investment in Education: A Global Update”.World development vol. 22 no. 9 pp 1325-43.Psacharopoulos, George. (1993). Return to Investment in Education: A Global    Update.               Diaksesdari:             http://www- wds.worldbank.org/servlet, pada 10 Agustus 2015.Psacharopoulos, George. (2006). The Value of Investment in Education: Theory, Evidence, and Policy. Journal of Education Finance. 32(2), 113-136.Purnastuti, L., dkk. (2011). Economic Return to Schooling in a Less Developed Country: Evidence for Indonesia. Diakses dari: http://kastoria.teikoz.gr/icoae2/, pada 20 Desember 2014.Purnastuti, L., dkk. (2015). Analisis Tingkat Pengembalian Investasi Pendidikan di Daerah Istimewa Yogyakarta. Prosiding Seminar Nasional 9 Mei 2015. Hlm. 797-806Purnastuti, L., Miller, P., dan Salim, R. (2013). Decilining Rates of Return to evidence for Indonesia. Bulletin of Indonesia Economic Studies.49(2), 213-236.Purnastuti, Losina., Miller, Paul., and Salim, Ruhul (2012). Economic Returns to Schooling in A Less Developed Country: Evidence for Indonesia. Journal of European Economy. Vol. 11. Sepecial Issue.Purnastuti, Losina., Miller, Paul., and Salim, Ruhul (2013). Declining rates of return to education: evidence for Indonesia, Bulletin of Indonesian Economic Studies.Schultz, Theodore, W (1961). Investment in Human Capital. Diakses dari: www.ssc.wisc.edu, pada 23 Februari 2015.

Study abroad, human capital development, language commodification, and social inequalities

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Federica Goldoni
Keyword(s):  
Human Capital ◽  
Study Abroad ◽  
Language Learning ◽  
Social Inequalities ◽  
Foreign Language Learning ◽  
Language Education ◽  
Analytical Framework ◽  
Ethnographic Study ◽  
Human Capital Development ◽  
Capital Development

Abstract Neoliberal discourse has seeped into various practices of higher education and study abroad (SA), emphasizing the value of human capital development through international education and foreign language learning. Applied linguists have been strongly critiquing neoliberal ideologies, and how they reproduce social inequalities. In this study, the examples of Albert, Theresa, and Rebecca, three U.S. undergraduates in Spain, exhibit how elements of neoliberal discourse and the consumerist notion of second language education as a commodity perpetuate social inequalities abroad and at home. These students were part of an ethnographic study (2007–2008) that included 117 U.S. undergraduates enrolled in four academic SA programs in Spain. The stories of Albert, Theresa, and Rebecca are significant because they had traction within their SA cohort. The consumerist notion of education as a commodity was employed as the analytical framework in conjunction with Bourdieu’s concept of capital (1986). This study problematizes the neoliberal logic and the promise of human capital development associated with language learning through SA. It calls for more diversity, equity, inclusion in SA. A social justice pedagogical paradigm is discussed as a valid, alternative approach to help students emphasize humanistic imperatives over individualist imperatives, gain global understanding, and contribute to world justice.

Lifelong Learning in Developing Knowledge Workers

2012 ◽  
Author(s):  
Abdul Halim Abdul Majid ◽  
Nor Bizura Seth
Keyword(s):  
Human Capital ◽  
Lifelong Learning ◽  
Knowledge Workers ◽  
Knowledge Worker ◽  
Codified Knowledge ◽  
College Of Business ◽  
High Level ◽  
The University ◽  
Universiti Utara Malaysia ◽  
Developing Knowledge

This monograph discusses the importance of lifelong learning in developing knowledge workers and human capital. Facets of lifelong learning, knowledge workers and human capital are highlighted to provide basic understanding to all readers. The facets of lifelong learning include accessibility to learning, investment for learning, methods and contents of learning, values of learning, direction and guidance in learning and learning opportunities closer to home. Meanwhile, the facets of knowledge worker are problem solving, using intellectual skills, requiring a high level of autonomy, emphasizing on quality of judgment, using unique processes, possessing un-codified knowledge, sourcing between his ears and using knowledge and information to add to deeper knowledge and information. There are several individuals whom we would like to thank for their contributions to this monograph. This monograph has benefited greatly from the inputs, comments and expertise as well as working experience of all contributors. We also would like to thank the School of Business Management, the College of Business, Universiti Utara Malaysia, the Research Innovation and Management Center (RIMC) of Universiti Utara Malaysia and the top leaders of the University for their encouragement and support. Those who have contributed directly or indirectly toward the publication of this monograph also deserve our appreciation.

The Myth of Quality

2020 ◽  
pp. 97-117
Author(s):  
John Wei
Keyword(s):  
Human Capital ◽  
Social Class ◽  
Cultural Capital ◽  
Social Interactions ◽  
Social Inclusion ◽  
Social Inequalities ◽  
The State ◽  
Queer Communities

This chapter deals with social inclusion and exclusion along the lines of cultural capital and social distinctions underlined by social class migration and mobilization. Drawing upon sociological analyses of various forms of human capital and academic inquiries into the issue of suzhi (“quality”), this chapter analyzes the ongoing social stratifications in China’s queer communities that have reproduced larger social inequalities. Through an investigation of an “upward” online queer community, it argues that the state-engineered discourse of suzhi has to some extent expired, but the lingering myth of “quality” continues to underline queer social distinctions and social interactions online and on the ground.

Human Capital Enhancement through Education and Immigration

2017 ◽  
Author(s):  
Yue Chim Richard Wong
Keyword(s):  
Human Capital ◽  
Hong Kong ◽  
Population Aging ◽  
Postwar Period ◽  
Working Population ◽  
The Real ◽  
Real Population ◽  
Readiness To Adopt ◽  
The City ◽  
Education And Immigration

The chapter points out that to meet Hong Kong’s population challenge in the next three decades, it urgently needs to implement human capital enhancement policies. Its future as an international metropolis is under severe challenge because of the aging of its population. The failure to replenish itspopulation numbers with university-educated talents, especially in the working population, is very worrying. Hong Kong’s population aging problem is particularly seriousImmigrants who came in the postwar period were the foundation of Hong Kong’s success, and they enriched the life of the city. The city must shed the insular mentality that is emerging today if it is to avoid the fate of becoming a capitalist museum by the end of this century. The real population challenge for Hong Kong lies in our readiness to adopt and implement policies that are necessary to shaping the city’s future.

Rethinking Labor Demand

2020 ◽  
pp. 174-194
Author(s):  
Phillip Brown
Keyword(s):  
Human Capital ◽  
Labor Markets ◽  
Capital Investment ◽  
Labor Demand ◽  
Occupational Structure ◽  
Life Chances ◽  
Orthodox Theory ◽  
Investments In Education ◽  
And Training

This chapter turns to questions of labor demand at the heart of the new human capital. It rejects Gary Becker’s claim that orthodox theory offered an entirely new way of looking at labor markets, where the main focus is on labor scarcity and a skills competition, in which individuals, firms, and nations compete on differential investments in education and training. It also rejects David Autor’s claim that the issue is not that middle-class workers are doomed by automation and technology, but instead that human capital investment must be at the heart of any long-term strategy for producing skills that are complemented by rather than substituted for by technological change. The chapter argues that the new human capital rejects the view that demand issues can be resolved through a combination of technological and educational solutions. Rather a jobs lens is required to shed new light on changes in the occupational structure, transforming the way people capitalize on their education, along with the distribution of individual life chances.

Occupational Differences in the Return on Human Capital in the Spanish Travel Agency and Hospitality Industries

2011 ◽  
Vol 17 (6) ◽  
pp. 1325-1345 ◽  
Author(s):  
Alejandro García Pozo ◽  
Andrés J. Marchante Mera ◽  
José Luis Sánchez Ollero
Keyword(s):  
Human Capital ◽  
Relative Weight ◽  
Travel Agency ◽  
Rates Of Return ◽  
Services Sector ◽  
Occupational Differences ◽  
Rate Of Returns

This study analyses the returns on human capital in the Spanish hospitality and travel agency industries across seven occupational categories by gender. It is motivated by evidence that there is great variation between jobs in this sector and that estimations of the rate of returns for each component of human capital for the entire sector may not be accurate. The main results indicate that the rates of return on human capital are lower in these industries for most occupations than in the private services sector. Given that differences in the returns on human capital components across occupational categories are statistically significant and large, then the relative weight of each segment within the aggregate may explain the results obtained in previous studies.

scholarly journals Human Capital and the Wealth of Nations

2014 ◽  
Vol 104 (9) ◽  
pp. 2736-2762 ◽  
Author(s):  
Rodolfo E. Manuelli ◽  
Ananth Seshadri
Keyword(s):  
Human Capital ◽  
Demographic Variables ◽  
Factor Productivity ◽  
Rates Of Return ◽  
Capital Theory ◽  
Country Differences ◽  
Cross Country ◽  
Wealth Of Nations

We reevaluate the role of human capital in determining the wealth of nations. We use standard human capital theory to estimate stocks of human capital and allow the quality of human capital to vary across countries. Our model can explain differences in schooling and earnings profiles and, consequently, estimates of Mincerian rates of return across countries. We find that effective human capital per worker varies substantially across countries. Cross-country differences in Total Factor Productivity (TFP) are significantly smaller than found in previous studies. Our model implies that output per worker is highly responsive to changes in TFP and demographic variables. (JEL E23, I25, J24, J31, O47)

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