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This book provides a careful historical analysis of the co-evolution of educational attainment and the wage structure in the United States through the twentieth century. The authors propose that the twentieth century was not only the American Century but also the Human Capital Century. That is, the American educational system is what made America the richest nation in the world. Its educational system had always been less elite than that of most European nations. By 1900 the U.S. had begun to educate its masses at the secondary level, not just in the primary schools that had remarkable success in the nineteenth century. The book argues that technological change, education, and inequality have been involved in a kind of race. During the first eight decades of the twentieth century, the increase of educated workers was higher than the demand for them. This had the effect of boosting income for most people and lowering inequality. However, the reverse has been true since about 1980. This educational slowdown was accompanied by rising inequality. The authors discuss the complex reasons for this, and what might be done to ameliorate it.
Excerpt from The Teaching of Economics in Harvard University: A Report Presented by the Division of Education at the Request of the Department of Economics Department Of Economics and to the President of the Uni versity without expectation as perhaps need hardly be remarked that it will Offer final solutions for the many and important problems which present themselves in the teaching of Economics at Harvard. We have made every effort, however, to provide an adequate basis Of fact for the study of those questions we felt competent to consider, and to discuss them comprehensively. It goes without saying that we shall take the most genuine interest in further dis cussions or inquiries concerning any Of the facts or conclu sions presented in this Report. Paul H. Hanus, george E. Johnson, ernest C. Moore, walter F. Dearborn, alexander J. Inglis, john M. Brewer, henry W. Holmes. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.