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What should be our human capital investment policy?

Authors: James Heckman
Date: 01 May 1998
Type: Journal article, Fiscal Studies, Vol. 19, No. 2, May 1998, Vol. 19, No. 2, pp. 103-119


This paper considers the magnitude of the human capital investment required to offset the increase in the inequality in labour earnings in the US economy since 1979. It considers the ineffectiveness of government training policies, the effectiveness of private sector training and the conflict between economic efficiency and the work ethic. It also considers revisions of the tax code. The importance of the distinction between the long view and the short view in analysing human resource policies is emphasised.

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