Knowledge: Its Creation, Distribution and Economic Significance, Volume III: The Economics of Information and Human Capital

by Fritz Machlup

Volume III examines in clear and elegant prose the roles of knowledge and information in economics. Part One analyzes the effects of new or uncertain information on market performance; examines the formation and revision of expectations; and provides a classification of literature and an extensive bibliography. Part Two discusses private and social valuations of education and training, the controversy over nature vs. nurture," the issue of "credentialism," and the depreciation of human capital.

Originally published in 1984.

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672 pages, Hardcover

First published June 1, 1984