Jacob Mincer

Jacob Mincer was an influential American economist known for his work in labor economics. He is best known for developing the Mincer Earnings Function, which analyzes how education and experience impact an individual's income. Mincer argued that education increases earnings and that experience leads to higher wages over time. His research laid the groundwork for understanding the relationship between human capital—skills and knowledge—and economic productivity, influencing policy on education and labor. Mincer’s insights have had a lasting impact on how economists and policymakers consider workforce development and income inequality.