Is the Economics of Education Making Progress?

A historical perspective of economic thought

n this article, we take a look at the major trends in the evolution of economic thought with regard to the role of education and human capital, and by doing so we seek to assess whether there has been (or not) progress. in the specific field of the economics of education If the main intuitions on the links between education and economy were already there at the end of the 18th century and the beginning of the 19th century, the main developments date from the post-war period. We highlight the major themes debated since the end of the 1950s and highlight a form of cyclicality with regard to the vision of economists as to the beneficial or non-beneficial role of education for the economy. We also highlight scientific progress, leading the economy of education to relativize the first simplistic teachings of the theory of human capital. We are indeed witnessing a “historical” awareness (role of institutions, dependence on the trajectory) as well as a movement towards more and more careful empirical work (both in terms of ideas, methods, and bases of research). data), all leading to a nuanced view of the relationships between education and growth such as that between education and performance in the labor market. This development since the 1980s has allowed the economics of education to serve as a more solid foundation for economic tuition and social policy prescriptions. trajectory dependence) as well as a movement towards increasingly careful empirical work (both in terms of ideas, methods, and databases), all leading to a nuanced view of the relationships between education and growth like that between education and performance on the labor market. This development since the 1980s has allowed the economics of education to serve as a more solid foundation for economic and social policy prescriptions. trajectory dependence) as well as a movement towards increasingly careful empirical work (both in terms of ideas, methods, and databases), all leading to a nuanced view of the relationships between education and growth like that between education and performance on the labor market. This development since the 1980s has allowed the economics of education to serve as a more solid foundation for economic and social policy prescriptions.