THE HUMAN CAPITAL APPROACH TO OCCUPATIONAL DIFFERENTIALS

Abstract

Contemporary resurgence of interest in human capital has both analytic and empirical origins. Analysis has increasingly emphasised the need to consider both stocks and flows; in principle, every good is a capital good and labour is no exception. Modern theories of consumer behaviour, with their stress on long‐term planning particularise this viewpoint. These same theories have suggested the relevance of income distribution data for the explanation of consumer behaviour, the data have lent support, and together they have suggested that the process is reciprocal. Consumer behaviour and analysis should help in the spelling out of theories capable of explaining evolving patterns in income distributions.

Citation

Fisher, M.R. (1974), "THE HUMAN CAPITAL APPROACH TO OCCUPATIONAL DIFFERENTIALS", International Journal of Social Economics, Vol. 1 No. 1, pp. 40-62. https://doi.org/10.1108/eb013757