Gary Becker Quotes


Human capital analysis starts with the assumption that individuals decide on their education, training, medical care, and other additions to knowledge and health by weighing the benefits and costs. Benefits include cultural and other non-monetary gains along with improvement in earnings and occupations, while costs usually depend mainly on the foregone value of the time spent on these investments.


Citations

Becker, Gary S. "The Economic Way of Looking at Behavior." Journal of Political Economy, vol. 101, no. 3, 1993, p. 392.

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At the time he was referring to having requirements to bury electrical and telephone cable rather than string them on unsightly poles. The utility companies claim that it is too expensive although many cities and suburban areas require underground cabling.


Gary Becker
Gary Becker
  • Born: December 2, 1930
  • Died: May 3, 2014
  • Nationality: American
  • Profession: Economist

Gary Stanley Becker was an American economist who received the 1992 Nobel Memorial Prize in Economic Sciences. He was a professor of economics and sociology at the University of Chicago, and was a leader of the third generation of the Chicago school of economics.