Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

R. C. Datta

Abstract

Research in the field of human capital theory in the last one decade or so have hardly left any scholar in the field skeptical about the existence of a positive relationship between education and income. But there is no doubt that many of the researchers, including some of the proponents of the orthodox school (for example Blaug, 1976) are skeptical about the explanation given by human capital theorists, why these two variables viz., education and income, go together.

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