Policy to enhance human capital investment

Author: James J. Heckman (USA)
Publisher:
Publish Date: 2004-02-04
Features: This book collects three representative works of Professor Heckman, namely "Policies to Enhance Human Capital Investment," "Human Capital Investment in China," and "Microdata, Heterogeneity, and Public Policy Evaluation (Nobel Prize Lecture)." These three works have been translated into Chinese for the first time and hold significant value both theoretically and practically. The article "Policies to Enhance Human Capital Investment" explores the main sources of skill acquisition in modern economies and focuses on analyzing the importance of cognitive and non-cognitive skills in improving efficiency and achieving success. It also examines the effectiveness of skill formation channels such as formal education institutions, families, and enterprises. The article "Human Capital Investment in China" discusses the practices and policies of human capital investment in China since the mid-1990s. He argues that distortions in China's labor market are the primary reason for the low return on human capital investment. These two articles reflect Heckman Professor's core ideas on human capital investment from different perspectives. The foundation of these ideas lies in the methodological framework of microeconometrics pioneered by Professor Heckman. In his Nobel Prize Lecture "Microdata, Heterogeneity, and Public Policy Evaluation," he emphasizes the contributions of microeconometrics to the entire field of economics. This includes applying selective data to build labor supply models, conducting selective bias analysis and policy evaluation based on these models, and revealing the diversity and heterogeneity of individual behavior through empirical analysis.