Education and ‘human capitalists’ in a classical-Marxian model of growth and distribution
Bibliographic Data
| ID | 23195286 |
|---|---|
| Authors | Ashok K Dutt (0000-0002-4041-5740, University of Notre Dame, corresponding author), Amitava Krishna Dutt (Department of Political Science, University of Notre Dame, Notre Dame, IN, USA, and FLACSO, Ecuador), Roberto Veneziani (0000-0001-6431-0145, Queen Mary University of London) |
| Year | 2019 |
| Volume | 43 |
| Issue | 2 |
| Pages | 481-506 |
| Publication date | 2019-03-29 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Cambridge Journal of Economics (JOURNAL) |
| Journal identifiers | ISSN: 0309-166X • E-ISSN: 1464-3545 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1093/cje/bey025 |
| OpenAlex | W2598615640 |
| Language | EN |
| Citations received | 1 |
| References cited | 32 |
A simple classical-Marxian model of growth and distribution is developed in which education transforms low-skilled workers into high-skilled ones and in which high-skilled workers save and hold capital, therefore receiving both high-skilled wages and profit income. We analyse the implications for class divisions, growth and distribution of the transformation of the modern capitalist economy from one in which the main class division is between capitalists who own capital and workers who only receive wage income into one in which education and human capital play a major role. We show that an expansion in education can have a positive effect on growth but by altering the distribution of income rather than by fostering technological change, and that it yields some changes in income distribution and the class structure of the capitalist economy, but need not alter its fundamental features.
Capital (architecture) · Capital accumulation · Class (philosophy) · Distribution (mathematics) · Division of labour · Economic system · Economics · Growth model · Human capital · Income distribution · Inequality · Keynesian economics · Labour economics · Macroeconomics · Market economy · Neoclassical economics · Profit (economics) · Technological change · Wage · Economic Theory and Institutions · Economic Theory and Policy · Political Economy and Marxism
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Human Capitalism
Directed Technical Change
Rate of Profit and Income Distribution in Relation to the Rate of Economic Growth
Increasing Residual Wage Inequality
Optimum Technical Change in An Aggregative Model of Economic Growth
Changes in Relative Wages, 1963-1987
On the mechanics of economic development
An Inquiry into the Nature and Causes of the Wealth of Nations
Schooling in capitalist America
North-South Trade, Employment and Inequality
Technical Change, Inequality, and the Labor Market
Economic Growth and Income Inequality
The Glasgow Edition of the Works and Correspondence of Adam Smith, Vol. 2
The Political Economy of the Kuznets Curve
The Dependence Effect, Consumption and Happiness
A Mathematical Formulation of the Ricardian System
Capital Formation by Education
The Historical Roots of the Concept of Human Capital
Investment in Human Capital
Growth, Distribution, and Uneven Development
The Knowledge Economy
| Citations per year | 1 |
|---|---|
| Citation span | 2025 - 2025 (1) |
| Highly cited | No |