Theodore Schultz
American economist who emphasized education's role in agricultural productivity.
Most quoted
"Most of the people of the world are poor, so if we knew the economics of being poor, we would know much of the economics that really matters."
— from Nobel Lecture, 1979
"The formation of human capital has been the most distinctive feature of the human and economic history of the twentieth century."
— from Nobel Lecture, 1979
"The value of human capital is not just in its productive capacity, but also in its ability to adapt to change."
— from The Value of the Ability to Deal with Disequilibria, 1975
All quotes by Theodore Schultz (101)
Human capital theory explains why education pays dividends.
In my career, the joy was in discovering truths about people.
Farmers are entrepreneurs waiting to be unleashed.
The return on human investment is exponential.
Poverty traps are broken by knowledge, not charity alone.
Economic models must include the human element.
The best policy is one that empowers individuals.
Life taught me that growth comes from within.
Agriculture transforms societies when it transforms minds.
Human capital is the invisible wealth of nations.
Ignoring education is economic suicide.
In correspondence with colleagues, I always emphasized people over profits.
The Nobel was a validation of decades of quiet work.
Rural development requires urban-level education.
Economics without humanity is barren.
My last words on earth would be: Invest in humans.
Jokes aside, human capital is no laughing matter.
The art of economics lies in understanding lives.
Wisdom in policy comes from studying the forgotten farmer.
In interviews, I often quipped that degrees are investments, not expenses.
Contemporaries of Theodore Schultz
Other Economicss born within 50 years of Theodore Schultz (1902–1998).