[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Schultz, Human Capital & Professor Sen




----------------------------------------------------------------------
Postings not related to the writing of the Manifesto or policy chapters
are likely to be summarily rejected. Thanks for your understanding. IPI
----------------------------------------------------------------------
The following letter appeared in The Statesman today, enclosed for your =
possible interest.

"Dear Sir,

In regard to your leader of January 10, advocacy of public primary =
education and public health =96 or investment in =91human capital=92 =96 =
has been a constant theme among all economists from Adam Smith in the =
18th Century, to John Stuart Mill in the 19th to Alfred Marshall in the =
early 20th. The Economics Prize in memory of Alfred Nobel was awarded in =
1979 to the late Theodore W. Schultz (1902-1998) of the University of =
Chicago recognising his contributions to the economics of human capital =
and agricultural economics. Schultz had led the American Famine Mission =
to India in 1946, and his 1964 book Transforming Traditional Agriculture =
was instrumental in altering policy-thinking in favour of the Green =
Revolution which followed. Schultz also made the formal concept of human =
capital popular among economists in 1960 in his Presidential address to =
the American Economic Association, and a large amount of work has been =
done since then in the field by many of his colleagues and students, =
including Milton Friedman, Gary Becker and Sherwin Rosen. It would be =
highly salutary if, thanks to Professor Sen=92s receipt of the Prize, =
our Union and State legislatures in India finally wake up to the =
importance of investments in human capital, even though Professor Sen =
has been recognised, as he emphasised himself, mostly for his work in =
the area of social choice, a theory originating in the work of Professor =
Kenneth J. Arrow of Stanford University.

Yours faithfully

Subroto Roy, Kharagpur.



--------------------------------------------------------------------------
This is the National Debate on System Reform.       debate@indiapolicy.org
Rules, Procedures, Archives:            http://www.indiapolicy.org/debate/
-------------------------------------------------------------------------