A New View of Institutions, Human Capital, and Market Standardisation

Autor/inn/en	Rodriguez, Jacob P.; Loomis, Steven R.
Titel	A New View of Institutions, Human Capital, and Market Standardisation
Quelle	In: Education, Knowledge & Economy: A Journal for Education and Social Enterprise, 1 (2007) 1, S.93-105 (13 Seiten) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	1749-6896
Schlagwörter	Human Capital; Skill Development; Resource Allocation; Cultural Differences; Private Education; Foreign Countries; Federal Legislation; Accountability; Global Approach; United Kingdom; United States + Suchen Sie Ihr Suchwort? Humankapital; Kompetenzentwicklung; Qualifikationsentwicklung; Ressourcenallokation; Kultureller Unterschied; Privatunterricht; Ausland; Bundesrecht; Verantwortung; Globales Denken; Großbritannien; USA
Abstract	This paper argues that the rule-making function of institutions introduces an information distortion into markets--economic, political, and cultural--that changes the rational pattern of resource allocation. As markets expand, this distortion raises the price of individual talent and skill development in production. It leads to a public-private information convergence in education that places into doubt many arguments in favour of private-sector solutions to the underdevelopment of human capital. Implications are discussed. (Contains 1 endnote.) (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10