Human capital analysis starts with the assumption that individuals decide on their education, training, medical care, and other additions to knowledge and health by weighing the benefits and costs. Benefits include cultural and other non-monetary gains along with improvement in earnings and occupations, while costs usually depend mainly on the foregone value of the time spent on these investments.
More Quotes from Gary Becker:
Still, intuitive assumptions about behavior is only the starting point of systematic analysis, for alone they do not yield many interesting implications.Gary Becker
The amount of crime is determined not only by the rationality and preferences of would-be criminals, but also by the economic and social environment created by public policies, including expenditures on police, punishments for different crimes, and opportunities for employment, schooling, and training programs.
Gary Becker
My work on human capital began with an effort to calculate both private and social rates of return to men, women, blacks, and other groups from investments in different levels of education.
Gary Becker
I was not sympathetic to the assumption that criminals had radically different motivations from everyone else.
Gary Becker
The Treatise tries to analyze not only modern Western families, but also those in other cultures and the changes in family structure during the past several centuries.
Gary Becker
Is it fair or wise to place strict controls on legal immigration when little is done to stem illegal entry Preference should be given to younger persons who will get jobs and are likely to make a long-term commitment to the country, such as the many men and women who want to study at American universities.
Gary Becker
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Based on Topics: Education Quotes, Investment Quotes, Medicine & Medical Quotes, Time QuotesBased on Keywords: additions, foregone, weighing
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