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We develop a product market theory that explains why firms invest in general training of their workers. We consider a …
Persistent link: https://www.econbiz.de/10011402873
We examine economic growth, inequality and education when the wellspring of growth is the formation of human capital through a combination of the quality of child-rearing and formal schooling. The existence of multiple steady states is established, including a poverty trap, wherein children work...
Persistent link: https://www.econbiz.de/10011403095