Knowledge: Its Creation, Distribution and Economic Significance, Volume III : : The Economics of Information and Human Capital / / Fritz Machlup.

• Superior document: Title is part of eBook package: De Gruyter Princeton Legacy Lib. eBook Package 1980-1999
• VerfasserIn: Machlup, Fritz,
• Place / Publishing House: Princeton, NJ : : Princeton University Press, , [2014]; ©1984
• Year of Publication: 2014
• Edition: Course Book
• Language: English
• Series: Princeton Legacy Library ; Volume III
• Physical Description: 1 online resource (666 p.)

Volume III examines in clear and elegant prose the roles of knowledge and information in economics. Part One analyzes the effects of new or uncertain information on market performance; examines the formation and revision of expectations; and provides a classification of literature and an extensive bibliography. Part Two discusses private and social valuations of education and training, the controversy over nature vs. nurture," the issue of "credentialism," and the depreciation of human capital.Originally published in 1984.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Table of Contents

Frontmatter -- Contents -- Analytical Table Of Contents -- Foreword -- Acknowledgments -- Chapter 1. Introduction -- Part One. The Economics of Knowledge and Information -- Chapter 2. Old Roots and New Growth -- Chapter 3. Information and Prices: Futures, Insurance, and Product Markets -- Chapter 4. Labor Markets and Financial Markets -- Chapter 5. Public Decisions and Public Goods -- Chapter 6. New Knowledge, Dispersed Information, and Central Planning -- Chapter 7. Empirical Research, Theoretical Analysis, Applied Inquiry -- Appendix to Chapter 7. Contents of Economic Journals: Relative Shares of Empirical, Theoretical, and Applied Work -- Chapter 8. Economic Agents, Equilibria, and Expectations -- Chapter 9. The Expanding Specialty: Surveys and Classifications -- Chapter 10. A New Classification -- Chapter 11. A Sample Bibliography -- Part Two. Knowledge as Human Capital -- Chapter 12. Basic Notions of Capital Theory -- Chapter 13. Investment in Human Resources and Productive Knowledge -- Chapter 14. Private and Social Valuation -- Chapter 15. Human Capacity, Created by Nature and Nurture -- Chapter 16. The Route from Investments to Returns -- Chapter 17. Production Functions: The Choice of Variables -- Chapter 18. Productivity Versus Credentials -- Chapter 19. Depreciation of Knowledge Stocks and Human Capital -- Chapter 20. Profiles of Lifetime Learning and Earning -- Chapter 21. Rates of Return to Investment in Education -- Index