Consequence Quote by Robert Lucas, Jr
“The consequences for human welfare involved in questions about human capital spillovers are simply staggering. Once one starts to think about them, it's hard to think of anything else”
About This Quote
Source Paper: Economic Growth and Human Capital, Robert Lucas, 1988
The impact of human capital spillovers on society is enormous and dominates thinking once recognized.
In simple terms: Human capital effects are huge.
Key Takeaway
Consider broader societal impacts of education.
Themes
economics
education
growth
policy
Mood
analytical
concerned
Type
academic
policy.
When to use this quote
- public policy design
- education reform
- urban planning
- corporate training
- development aid
Key Concepts
human capital
spillover effects
externalities
Questions to Reflect On
- How can we measure spillover benefits accurately?
- What policies best capture these effects?
A Different Perspective
Quantifying spillovers is complex and may overstate effects.
