Investment in Humans, Technological Diffusion, and Economic Growth

by Richard R. Nelson, E. S. Phelps

Purchase

Purchase Print Copy

 FormatList Price Price
Add to Cart Paperback13 pages $20.00 $16.00 20% Web Discount

Text of a paper delivered at the American Economic Association meetings in December 1965. The authors consider the importance of education for a particular function requiring great adaptation to change and propose two models suggested by these considerations. The models (of the process of technological diffusion and of the role of education) show that the rate of return to education is greater the more technologically progressive is the economy.

This report is part of the RAND Corporation Paper series. The paper was a product of the RAND Corporation from 1948 to 2003 that captured speeches, memorials, and derivative research, usually prepared on authors' own time and meant to be the scholarly or scientific contribution of individual authors to their professional fields. Papers were less formal than reports and did not require rigorous peer review.

The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.