Human capital, screening theory and education in agriculture

Abstract

Human capital theory views education as a specific production factor and as a specific sort of capital. Besides this theory, alternative concepts of education were developed. Filter theory which is interested in the selective function of education and created a different point of view of economic analysis phenomena in education. Screening theory is similar and is interested in information of labor market attendants and their deciding. Signal equilibrium states are better or worse according to Pareto's efficiency and according to the higher or lower difference between private and common educational returns.

Keywords

• human capital
• screening theory
• filter theory
• education
• neoclassical theory