ABSTRACT
T. Schultz started building the modern era's version of a formal model for the analysis of the "Human Capital Concept Applied to Man" (1959) upon an article by John R. Walsh (1935), and upon the works of Frank Knight in 1944, M. Friedman and S. Kuznets in 1945, and]. Mincer in 1958. Schultz was closely followed by Burton Weisbrod and by Schultz's own student, G. Becker, who, after articles staking out his intellectual domain in the early 1960s, offered one of the most conceptually elegant, best argued, and influential books (1964) on any post-World War II subject in economics. Schultz, Becker, and others, given to the notion that we can treat investments in education in ways similar to investments in other forms of capital (that is, by measuring the COSts of and returns to social and personal educational expenditures), attracted many economists as well as many of their colleagues in other social science departments.
