About this Book

Monograph arguing that investment in human resources through education (human capital formation) and the cost of and resource allocation to research are important sources of economic growth neglected by classical economic theory - covers the rate of return in higher education in the USA, the effect on income distribution, etc., and attempts to show that the slowness of institutions to adjust to new demands made by the rise in the economic value of man is the key to important public problems. References and statistical tables.