Theodore Schultz

"This branch of economics has suffered from several intellectual mistakes. The major mistake has been the presumption that standard economic theory is inadequate for understanding low income countries …"

"Cultural and behavioral scholars are uneasy about this use of their studies. Fortunately, the intellectual tide has begun to turn. Increasing numbers of economists have come to realize that standard e…"

"The adverse economic events following the First World War turned me toward economics... I learned during my youth how hard it was for farm families to stay solvent. Farm product prices fell abruptly b…"

"Activities that improve human capabilities five major categories: health facilities and services, broadly conceived to include all expenditures that affect the life expectancy, strength and stamina, a…"

"Most people in the world are poor. If we knew the economy of being poor, we would know much of the economics that really matter. Most of the world's poor people earn their living in agriculture. If we…"

"The advance in knowledge and useful new factors based on such knowledge are all too frequently put aside as if they were not produced means of production but instead simply happened to occur over time…"

"Human beings are incontestably capital from an abstract and mathematical point of view."

"New York Times: Theodore Schultz, 95, Winner Of a Key Prize in Economics"