Schultz, theodore william, 190298, american economist. The previous year, schultz had presented this article as his presidential address at the seventythird annual meeting of the american economic association. Schultz s focus was on agriculture, a natural interest for someone who had grown up on a south dakota farm. Theodore william schultz was born in arlington, south dakota, april 30, 1902.
The latter source, the vehicle of the economic progress advance, is represented by the good care of children, by investments in the general and professional schooling, by the acquisition and knowledge and the improvement of the health. The role of education and of research theodore william schultz snippet view 1970. He is most famous for developing the human capital theory of economic recovery. Schultz publishes investment in human capital this year, theodore w. It was the unexplained rise in the economic value of man that led to the concept of human capital. Schultz rose to national prominence after winning the 1979 nobel memorial prize in economic sciences. Gale johnson t heodore william schultz was an outstanding innovator in the development of economics, a teacher who had a remarkable impact on hundreds of students, a highly successful academic administrator, and a keen observer of the world in which he lived. Schultz s emphasis on human capital ultimately resulted in the application of the idea to a far wider range of economic analysis. The central role it affords to education has become even more marked in recent years. As theodore schultz noted in his american economic association presidential address in 1961 many thought that free people were not to be equated with property and marketable assets schultz, 1961. Number 62 of a series of photographs of past presidents of.
He was an american nobel laureate, economist, and economics chair at the university of chicago. In the late 1950s and early 1960s schultz played a crucial role in converting. In 1979 theodore schultz was awarded the nobel prize along with w. Theodore william ted schultz 30 april 1902 26 february 1998 was an american economist, nobel laureate, and chairman of the chicago school of economics. Schultz the university of chicago april 30, 1902 february 26, 1998. He taught at iowa state college 193043 and the univ. Human capital theory has been an increasingly important phenomenon in economic thought over the last 50 years.
Schultz, investing in people 171 quality of their own inheritors. Arthur lewis for their pioneering research into economic development with particular consideration of the problems of developing countries. Theodore william schultz american economist britannica. Extensions of investment, theory to analyze the formation of human capital set the stage for empirical studies of a wide array of such investments. The introduction of human capital theory into education.
Theodore william schultz library of economics and liberty. He was born in arlington, south dakota, enrolled in south dakota state college in 1921 to study agriculture, and entered the. A tecnica como capital e o capital humano genetico scielo. Theodore william schultz april 30, 1902 february 26, 1998 was the 1979 winner jointly with arthur lewis of the bank of sweden prize. Theodore william schultz arlington, dakota del sur. Schultz s theory of human capital 267 bodies of knowledge, and we may therefore be prepared to grant, as has been shown empirically,7 that different countries, at the same moment of time, have different production functions even apart from natural resource endowment. Theodore william schultz, born april 30, 1902, near arlington, south dakota, u. Theodore william schultz april 30, 1902february 25, 1998 by d.
This pdf is a selection from an outofprint volume from. According to this theory, education is not a form of consumption that represents a costly expenditure for government but instead serves. Thus did theodore schultz begin his 1960 article on capital formation by education, one of the initial products of a research program that schultz had been pursuing since the mid 1950s. Schultz, known as ted schultz, was born on april 30, 1902 and died february 26, 1998.
Search for library items search for lists search for contacts search for a library. Schultz, theodore william, 19021998 schultz, theodore w. Theodore william schultz biography nobel prize winner 1979. Read, highlight, and take notes, across web, tablet, and phone. Schultz the university of chicago human capital is a new research area in economics.
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