Friday, September 22, 2006

Not related to Milo, at all: Jacob Mincer (1922-2006)

This has nothing to do with Milo, but I think these sad news deserve to be more widespread than they were. I found out about this weeks after it happened.

Jacob Mincer (1922-2006), died of complications from Parkinson's disease at 84. He was the father of modern labor economics, he was a pioneer in labor economics, the first to quantify the payoff from education and training. Mincer and Nobel Laureate Gary Becker helped to develop the empirical foundations of human capital theory, consequently revolutionizing the field of labor economics. Mincer's ground-breaking work: "Schooling, Experience and Earnings," published in 1974, continues to have profound impact on the field of labor economics.

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