SY423 Lecture Notes - Lecture 1: Isomorphism, Parenting, Obstetrics And Gynaecology
Document Summary
Not something you have, but is something in the link between people. Like physical and human, social capital also facilitates product. Physical capital: tangible tools, ie. screwdriver, factory, productive equipment. Human capital: brought about by skills and capabilities that allow them to act in new ways ie. getting degree/diploma. Individuals make choices of investing in human capital based on rational benefits and costs. Economists have little interest in other functions of schooling. Rather, interested in its monetary returns or payoffs . Presume that school-based skills are form of capital. Education -> job skills -> productivity -> wages and wealth. Presume individuals are motivated to attend primarily for its return. Presume societies create school systems to generate wealth. Actor as socialized, action governed by social norm, rules, etc. Action = maximizing utility (ie. profit, pleasure) People"s actions are shaped, constrained by social context. To import economists principle of rational action to analyze social systems, without ignoring social organization.
