This chapter proposes a framework for estimating the investment in human capital from health improvement or activities that improve life expectancy and reduce morbidity rates. The measurement framework builds on and extends the Jorgenson-Fraumeni income-based approach for estimating human capital to account for the effect of health on human capital. This economic approach to measuring health human capital differs from the welfare-based approach that estimates the economic effect of health improvements on the quality of life and well-being of individuals. The framework is then implemented for Canada, and the investment in health human capital for the period from 1970 to 2020 is estimated. The estimated investment in health human capital based on the income approach was found to be lower than health expenditures in Canada. This suggests that much of the health expenditures should be classified as consumption rather than as an investment that increases earnings.

The chapter examines the relationship between the size and diversity of the expellee population and entrepreneurship and occupational change in West Germany. Using statistical data at the municipal and county levels, it documents a reversal of fortune: although expellee presence presented economic challenges in the immediate postwar period, in the long run, it increased entrepreneurship rates, education, and household incomes. The more regionally diverse the expellee population, the better the long-run economic performance in receiving communities.

The chapter examines how the size and diversity of the migrant population shaped economic outcomes in western Poland using statistical analysis. It shows that when state institutions were extractive, the composition of the migrant population played no role in shaping economic performance. Once institutions became more inclusive, however, municipalities settled by more regionally diverse populations registered higher incomes and entrepreneurship rates. The chapter then rules out a series of alternative explanations for these findings.

The chapter discusses the influence of utilitarianism on education. It begins by introducing the core principles of utilitarianism. The chapter then argues that it is possible to distinguish between two major strands within the utilitarian view of education: one that focuses on promoting the happiness of each individual, and the other on enhancing the happiness of the greatest number by creating facilitating social conditions for it. Each of these two strands is separately examined. The chapter also maintains that the second strand had a lasting impact on education that finds its clearest current expression in the emphasis on education’s role in economic development. Finally, the chapter suggests that reviving certain traditional forms of utilitarianism has significant potential to improve education.

As a continuation of the overall introduction to the book, Chapter 2 summarizes the main contributions of economics to understanding the role of education in society and to educational policy. The chapter details these contributions in three parts: (1) economists have demonstrated that education has an important economic dimension (that it has economic value), and they have inserted education policy near the center of the debate on economic development and material well-being; (2) they have formalized concrete models of student learning, both in and out of school, and have developed models of educational production, in which schools, districts, and states are economic decision units, allocating resources to produce educational outputs – and where incentives and resource allocation decisions affect the productivity of teachers and student learning, economists have been able to model a number of strategies that increase output and test them empirically; and (3) economists have also been at the forefront of applying new and increasingly sophisticated statistical techniques to estimate quantitatively the causal effects of various educational policies on student academic outcomes and adult economic and social outcomes.

Chapter 4 reviews the underlying concepts of human capital theory, including a short introduction to the concepts of demand and supply and the relation between marginal productivity and wages. The first section of the chapter reviews the key assumptions of human capital theory – especially the importance of individual choice, the role of individuals’ initial endowments in making choices regarding investments in education and training, and the causal relation between individual skill acquisition and individual labor productivity. The second and third section of the chapter review some fundamental concepts of supply and demand and the relationship between productivity and wages – these sections are meant for students who have had little or no economics. The final section of the chapter discusses the fundamentals of the model of demand for and supply of human capital – first, in the early model of Becker and Chiswick (1966), followed by the more recent life-cycle investment model as described in Neal (2017). These conceptual foundations allow us to move on to more specific human capital analyses in the next two chapters.

This chapter underscores the importance for obtaining a proper understanding of the outcomes primary education system in Bangladesh produces. It also emphasises that the provision of primary education is an important institutional issue as it requires effective mechanisms for the recruitment, training, and retention of teachers; the construction and maintenance of schools and other infrastructure; the design and implementation of the curriculum; the monitoring of progress, through inspections and examinations; and the creation of a learning environment. This chapter analyses the challenges related to the coexistence of various actors in the primary education system, the inadequate allocation of resources, the lack of incentives to attract high-quality teachers, the shortage of trained teachers, the low quality of the educational infrastructure, the poor curriculum design, and the flawed examination system. This chapter relates some of these challenges to the public sector in general in Bangladesh. Finally, it recommends relevant measures to overcome the institutional challenges of public spending in primary education and to improve the quality of services.

This chapter uses Don Delillo’s novel Zero K to consider the historical and structural relationship between bioethics and biocapitalism, particularly in the development of consent forms and contract labour. In this way, the essay examines the role human capital theory and transhumanism have played in influencing definitions of human nature and the bioethical frameworks predicated on these definitions. Using the techniques of literary narrative bioethics and feminist relational bioethics, the essay carefully interprets Zero K’s treatment of cryonics as a bioethical dilemma too often contained and constrained by historical and ideological conceptions of consent, which the novel seeks to critique. Ultimately, the chapter offers a form of posthuman literary narrative bioethics as an alternative methodology.

This chapter underscores the importance for obtaining a proper understanding of the outcomes primary education system in Bangladesh produces. It also emphasises that the provision of primary education is an important institutional issue as it requires effective mechanisms for the recruitment, training, and retention of teachers; the construction and maintenance of schools and other infrastructure; the design and implementation of the curriculum; the monitoring of progress, through inspections and examinations; and the creation of a learning environment. This chapter analyses the challenges related to the coexistence of various actors in the primary education system, the inadequate allocation of resources, the lack of incentives to attract high-quality teachers, the shortage of trained teachers, the low quality of the educational infrastructure, the poor curriculum design, and the flawed examination system. This chapter relates some of these challenges to the public sector in general in Bangladesh. Finally, it recommends relevant measures to overcome the institutional challenges of public spending in primary education and to improve the quality of services.

In the Epilogue, I consider the ways that the rise and fall of the professional class has left the world in thrall to a conflict between managerial capitalism and professional technocracy. Unlike labour versus capital, this intra-bourgeois conflict is not productive of change. Rather, self-perpetuating cycles seeking material and moral authority have infected workplaces and global politics, impeding reform. Much is at stake, including climate change. Professionals, whose work remains necessary to a good society, need to separate virtue from capitalism, disaggregating their moral goals from their own class interests – even to the point of turning the hierarchy that they made on its head. The Epilogue draws inspiration from the reversals of hierarchies made possible by acts of decolonization.

Chapter 2 explores the patterns of late nineteenth-century global capitalism through which a progressive, moral middle class built a system of professions. It uses the 1880s Melbourne land boom to show the sustained effect of the ‘great heaves’ of investment from the City of London into Australia, Canada, and the United States. This financializing economy – unlike earlier, short-term bubbles like Chicago’s in the 1830s – stimulated the global expansion of professional occupations. Older moral values infused the professions across the Anglo world as they grew and institutionalised. Retaining capitalism’s model of return on investment, the professional class made investment in humans the central professional ideal. Their class status was often concealed beneath layers of rationality and claims to expertise, but in the settler colonies they transformed capitalism into a form of moral investment for social return in ways that served their own interests first. As part of a global bourgeoisie, these transformations at the periphery of the Anglo world were soon also felt in the British metropole.

This chapter continues the story of the preceding chapter with a wider lens to discuss advocacy efforts of various kinds for children in the years following the brain development campaign. These include California’s Proposition 10 campaign for a cigarette tax that has provided millions of dollars in funding for early childhood programs through First 5 California, the work of James Heckman and Rolnick and Grunewald using economic principles to argue for early childhood investments as a means of improving workplace productivity through the developing brain, the Pew Charitable Trusts’ ten-year campaign for prekindergarten education, the development of advocacy efforts for early childhood within the business community, confused and constructive applications of developmental neuroscience to education, and other initiatives. The results of these efforts were some real wins for young children, such as advances in child health care access and affordability and early childhood education. But there have been disappointments, including lack of improvement in child care and parental leave, and inattention to brain development for children in poverty. The chapter documents the evolving brain development message as new voices and priorities entered and the problems of overpromising results from proposed programs for children.