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Schultz, Theodore William, 1902- (B3) Leading US authority on HUMAN CAPITAL theory. Educated in agricultural economics at South Dakota State College and the University of Wisconsin. Since 1943, he has been professor at the University of Chicago. His NOBEL PRIZE FOR ECONOMICS, jointly awarded in 1980 with Arthur LEWIS, was for his work in agricultural economics. Although he published a major work on this topic, The Economic Organization of Agriculture (1953), his major contribution to mainstream economics has been in leading the modem human capital movement, especially with his The Economic Value of Education (1963) and Investment in Human Capital: The Role of Education and Research (1971).
job generation (J6)<br />The expansion of employment in either the public or private sector. In the former, regional and other policies are used to create jobs; in the latter, new jobs are preceded by an expansion in a market.
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