{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,24]],"date-time":"2026-06-24T03:22:12Z","timestamp":1782271332901,"version":"3.54.5"},"reference-count":153,"publisher":"American Economic Association","issue":"3","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Journal of Economic Perspectives"],"published-print":{"date-parts":[[2022,8,1]]},"abstract":"<jats:p> This paper synthesizes what economists have learned about human capital since Becker (1962) into four stylized facts. First, human capital explains at least one-third of the variation in labor earnings within countries and at least half of the variation across countries. Second, human capital investments have high economic returns throughout childhood and young adulthood. Third, we know how to build foundational skills such as literacy and numeracy, and resources are often the main constraint. Fourth, higher-order skills such as problem-solving and teamwork are increasingly valuable, and the technology for producing these skills is not well understood. We know that investment in education works and that skills matter for earnings, but we do not always know why. <\/jats:p>","DOI":"10.1257\/jep.36.3.75","type":"journal-article","created":{"date-parts":[[2022,8,9]],"date-time":"2022-08-09T12:33:41Z","timestamp":1660048421000},"page":"75-102","source":"Crossref","is-referenced-by-count":172,"title":["Four Facts about Human Capital"],"prefix":"10.1257","volume":"36","author":[{"given":"David J.","family":"Deming","sequence":"first","affiliation":[{"name":"David J. Deming is the Isabelle and Scott Black Professor of Political Economy at the Harvard Kennedy School, Professor of Education and Economics at the Harvard Graduate School of Education, and Research Associate, National Bureau of Economic Research, all in Cambridge, Massachusetts. 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