Inequality in America: What Role for Human Capital Policies? / Edition 1

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Overview

The surge of inequality in income and wealth in the United States over the past twenty-five years has reversed the steady progress toward greater equality that had been underway throughout most of the twentieth century. This economic development has defied historical patterns and surprised many economists, producing vigorous debate. Inequality in America: What Role for HumanCapital Policies? examines the ways in which human capital policies can address this important problem. Taking it as a given that potentially low-income workers would benefit from more human capital in the form of market skills and education, James Heckman and Alan Krueger discuss which policies would be most effective in providing it: should we devote more resources to the entire public school system, or to specialized programs like Head Start? Would relaxing credit restraints encourage more students to attend college? Does vocational training actually work? What is the best balance of private and public sector programs? The book preserves the character of the symposium at which the papers were originally presented, recreating its atmosphere of lively debate. It begins with separate arguments by Krueger and Heckman (writing with Pedro Carneiro), which are followed by comments from other economists. Krueger and Heckman and Carneiro then offer separate responses to the comments and final rejoinders.

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Editorial Reviews

From the Publisher
"A scholarly debate between rigorous economists of the left and right that has the virtue of shedding more light than heat." The Washington Post
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Product Details

Meet the Author

James J. Heckman is the Henry Schultz Distinguished Service Professor of Economics at theUniversity of Chicago. He was a recipient of the Nobel Prize for Economic Sciences in 2000. He is the coauthor (with Alan B. Krueger) of Inequality in America: What Role for Human CapitalPolicies? (MIT Press).

Alan B. Krueger is Bendheim Professor of Economics and Public Affairs at PrincetonUniversity.

Benjamin M. Friedman is William Joseph Maier Professor of Political Economy at HarvardUniversity and the author of The Moral Consequences of Economic Growth.

Benjamin M. Friedman is William Joseph Maier Professor of Political Economy at HarvardUniversity and the author of The Moral Consequences of Economic Growth.

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Table of Contents

Introduction
1 Inequality, Too Much of a Good Thing 1
2 Human Capital Policy 77
3 Comments 241
4 Responses 293
5 Rejoinders 327
Contributors 355
Index 357
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