Principles of Macroeconomics / Unit 15 MAC 1418 short lesson, about 20 seconds
Human Capital and Technology
Captions available
The idea
Governments also fund education, which builds human capital, and research, directly or through tax incentives. Both act on long-run supply rather than on demand.
In practice
A sizeable share of public research is defence and space oriented, which spills over less to civilian production.
Where people slip
The anchor asks whether more school spending raised measured achievement and does not answer it; neither does the course.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
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