The human capital construct is deep in the bones of economics and finds reference by many classical economists, even if … they did not use the phrase. The term “human capital,” seldom mentioned in economics before the 1950s, increased starting … to 2019, the use of human capital among NBER books increased from 5% to 25%, whereas all economics books changed from 3 …

. We characterize a class of environments in which the tax on labor goes to zero in the long run, while the tax on capital …

total factor productivity (TFP) and static measures of capital misallocation within a country. Using data on 5 … between productivity volatility and the dispersion of the marginal revenue product of capital (static capital misallocation …-one percent of the static capital misallocation in the data is captured by the model's prediction. Our findings suggest that the …

We study capital misallocation within and across 10 African countries using the World Bank Enterprise Surveys. First … product of capital (MPK), implying that countries could produce significantly more with the same aggregate capital stock if … capital were allocated optimally. Such variation differs from country to country with some African countries (success stories …

of substitution between capital and labor less than one. This is inconsistent with the Uzawa Growth Theorem. We extend … Uzawa's theorem to show that the introduction of human capital accumulation in the standard way does not resolve the puzzle …. However, balanced growth is possible if schooling is endogenous and capital is more complementary with schooling than with raw …