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Encyclopedia > Theodore Schultz

Theodore William Schultz (April 30, 1902February 26, 1998) was the 1979 winner (jointly with William Arthur Lewis) of the Nobel Memorial Prize in Economics. is the 120th day of the year (121st in leap years) in the Gregorian calendar. ... 1902 (MCMII) was a common year starting on Wednesday (see link for calendar). ... is the 57th day of the year in the Gregorian calendar. ... Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ... Also: 1979 by Smashing Pumpkins. ... Sir William Arthur Lewis (January 23, 1915 – June 15, 1991) was a Saint Lucian economist well known for his contributions in the field of economic development. ... The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel[1] (Swedish: Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), commonly called the Nobel Prize in Economics, or more acurately the Nobel Memorial Prize in Economic Sciences, is a prize awarded each year for outstanding intellectual...


He was born in Arlington, South Dakota, enrolled in South Dakota State College in 1921 to study agriculture, graduated in 1927, then entered the University of Wisconsin earning his doctorate in economics in 1930. Arlington is a city located in South Dakota. ... South Dakota State University is the largest university in the U.S. state of South Dakota, located in Brookings. ... The University of Wisconsin–Madison (also known as UW–Madison, Madison, Wisconsin, University of Wisconsin, or UW) is a highly selective public research university located in Madison, Wisconsin. ...


He later taught at Iowa State College, and moved to the University of Chicago in 1943. He later became president of the American Economic Association. He died in 1998. Iowa State University of Science and Technology (ISU) is a public land-grant and space-grant university located in Ames, Iowa, USA. Until 1959 it was known as Iowa State College of Agriculture and Mechanic Arts. ... The University of Chicago is a private university located principally in the Hyde Park neighborhood of Chicago. ... The American Economic Association, or AEA, is the oldest and most important professional organization in the field of economics. ... Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ...

Contents

His contributions

Schultz was awarded the Nobel Prize for his work in development economics, focusing on the economics of agriculture. He analysed the role of agriculture within the economy, and his work has had far reaching implications on industrialisation policy, both in developing and developed nations. Schultz also promulgated the idea of educational capital, an offshoot of the concept of human capital, relating specifically to the investments made in education. This article does not cite any references or sources. ... Agricultural economics applies the principles of economics to the production of crops and livestock. ... A factory in Ilmenau (Germany) around 1860 Industrialisation (also spelt Industrialization) or an Industrial Revolution is a process of social and economic change whereby a human society is transformed from a pre-industrial (an economy where the amount of capital accumulated per capita is low) to an industrial state (see... Human capital is a way of defining and categorizing the skills and abilities as used in employment and as they otherwise contribute to the economy. ...


Schultz researched into why post-World War II Germany and Japan recovered, at almost miraculous speeds from the wide-spread devastation. Contrast this with the United Kingdom which was still rationing food long after the war. His conclusion was that the speed of recovery was due to a healthy and highly educated population; education makes people productive and good healthcare keeps the education investment around and able to produce. One of his main contributions was later called Human Capital Theory, and inspired a lot of work in international development in the 1980s, motivating investments in vocational and technical education by Bretton Woods System International Financial Institutions such as the IMF and the World Bank. Wikipedia does not have an article with this exact name. ... The global financial system (GFS) refers to those financial institutions and regulations that act on the international level, as opposed to those that act on a national or regional level. ... The flag of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring foreign exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ... ...


Bibliography

Books Authored

  • Redirecting Farm Policy, New York: Macmillan Company, 1943
  • Agriculture in an Unstable Economy, New York: McGraw-Hill, 1945
  • The Economic Organization of Agriculture, McGraw-Hill, 1953
  • The Economic Value of Education, New York: Columbia University Press, 1963
  • Transforming Traditional Agriculture, New Haven: Yale University Press, 1964
  • Economic Growth and Agriculture, New York: MacGraw-Hill, 1968
  • Investment in Human Capital: The Role of Education and of Research, New York: Free Press, 1971
  • Human Resources (Human Capital: Policy Issues and Research Opportunities), New York: National Bureau of Economic Research, 1972

Books Edited

  • Food for the World, Chicago: University of Chicago Press, 1945
  • Investment in Human Beings, Chicago: University of Chicago Press, 1962
  • Investment in Education: Equity-Efficiency Quandary, Chicago: University of Chigaco Press, 1972
  • New Economic Approaches to Fertility, Chicago: University of Chicago Press, 1973
  • Economics of the Family: Marriage, Children, and Human Capital, Chicago: University of Chicago Press, 1974

  Results from FactBites:
 
Theodore Schultz - Wikipedia, the free encyclopedia (434 words)
Theodore William Schultz (April 30, 1902 – February 26, 1998) was the 1979 winner (jointly with Arthur Lewis) of the Bank of Sweden Prize.
Schultz was awarded the Bank of Sweden Prize for his work in development economics, focusing on the economics of agriculture.
Schultz also promulgated the idea of educational capital, an offshoot of the concept of human capital, relating specifically to the investments made in education.
American National Biography Online (1046 words)
Schultz, Theodore W. (30 Apr. 1902-26 Feb. 1998), economist, was born Theodore William Schultz on a farm near Arlington, South Dakota, to Herry E. Schultz, a farmer, and Anna E. Weiss Schultz.
Schultz later noted that he had been born when times were especially hard for farmers, and from an early age he wanted to find a way to improve the situation of his parents and their farm neighbors.
Schultz remained at the University of Chicago until his retirement as an emeritus professor in 1972, serving as chairman of the economics department from 1946 to 1961 and holding the Charles L. Hutchinson Distinguished Service chair from 1952 until 1972.
  More results at FactBites »


 

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