Misallocation of Human Capital: The Perspective of Austrian School - Tapa blanda

Skala Jakub

 
9783659711299: Misallocation of Human Capital: The Perspective of Austrian School
Tapa blanda
ISBN 10: 3659711292 ISBN 13: 9783659711299
Editorial: LAP Lambert Academic Publishing, 2015

Sinopsis

Higher education is often considered as one of the safest and most profitable investments in human capital. There are, however, signals that this sector has been experiencing unsustainable economic boom in the United States. This study examines the ability of the business cycle theory provided by Austrian School to explain the possibility of such boom, i.e. to explain the potential systematic errors in the allocation of human capital. We find that respective allocation is driven by the similar market forces as the allocation of physical capital and hence, that it may fall victim to the same, or similar false market signals, thus creating the cycle of boom and bust.

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Reseña del editor

Higher education is often considered as one of the safest and most profitable investments in human capital. There are, however, signals that this sector has been experiencing unsustainable economic boom in the United States. This study examines the ability of the business cycle theory provided by Austrian School to explain the possibility of such boom, i.e. to explain the potential systematic errors in the allocation of human capital. We find that respective allocation is driven by the similar market forces as the allocation of physical capital and hence, that it may fall victim to the same, or similar false market signals, thus creating the cycle of boom and bust.

"Sobre este título" puede pertenecer a otra edición de este libro.

Editorial
LAP Lambert Academic Publishing
Año de publicación
2015
Idioma
Inglés
ISBN 10 
3659711292
ISBN 13 
9783659711299
Encuadernación
Tapa blanda
Número de páginas
88
Contacto del fabricante
no disponible
Persona responsable
no disponible