Jacob Mincer

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Jacob Mincer is considered the father of modern labor economics. He, among others, conducted research on the effects of investment in human capital and the increase in wages. He summed up his breakthroughs at work "Schooling, Experience and Earnings" - 1974. He was also one of the first economists who examined the impact of working women and their earnings on the family finances.

Biography

He was born in 1922 in the town of Tomaszów in Poland. As a teenager he survived World War II, then emigrated to the United States. In 1950 he graduated from Emory University and in 1957, he received his doctorate from Columbia University. In his early work he lectured at various universities, among others: Stockholm School of Economics, Hebrew University and University of Chicago where he worked with Nobel laureate Gary S. Becker. Then he received a professorship at Columbia University. Among the most important honors, he in 2002 received from German Institute: Forschungsinstitut zur Zukunft der Arbeit In 2004, he received the award for his achievements, granted by University of Chicago, called henceforth The Mincer Prize. From 1960 until his death he was a member of National Bureau of Economic Research (NBER). He died on 21 August 2006.

Achievements

  • Mincer revolutionized views on labor economics pointing to the role human capital.
  • Introduced the so-called. Mincer patterns that describe dependences between work, wages, education and human potential.

References