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Nobel Laureate Theodore W. Schultz has made highly important contributions to the fields of agriculture and natural resource economics, and to human capital theory.
This volume is mainly devoted to investments in specialized forms of capital, consisting in large part of human capital that produces increasing rates. The tensions between politics and economics are critically examined.

The first of two volumes by the winner of the Nobel Prize in Economics, 1979. The articles cover the economics of acquiring skills and knowledge, investment in the quality of the population and the increasing economic importance of the quality of the work force.