Origins of Increasing Returns

Nobel Laureate Theodore W.Schultz has made highly important contributions to the fields of agriculture and natural resource economics, and to human capital theory. This is the second of two volumes which encompass and combine the passions and interests of this eminent economist.

Origins of Increasing Returns is mainly devoted to investments in specialized forms of capital, consisting in large part of human capital that produce increasing rates. The resulting tensions between politics and economics are critically examined.

Theodore W. Schultz is Charles L. Hutchinson Distinguished Service Professor Emeritus at the University of Chicago. His Nobel Prize for Economics was received in 1979 for his “pioneering research into economic development ... with particular consideration of the problems of developing countries.”

He is the author of numerous books and articles including Restoring Economic Equilibrium (Blackwell, 1990) and The Economics of Being Poor (1993).