Theodore Schultz

Theodore Schultz was an economist known for his work on the importance of human capital—the skills, knowledge, and education individuals acquire—how it drives economic growth and development. He believed investing in people through education and training increases productivity and benefits society overall. Schultz’s ideas shifted economic thinking from focusing solely on physical resources to recognizing the vital role of human effort and capabilities in raising standards of living and fostering economic progress. His insights helped shape policies emphasizing education, health, and skills development as key drivers of a nation's prosperity.