Professor James Heckman: "The Economics of Inequality and Human Development" Lecture
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Nobel laureate, Professor James Heckman (Chicago) delivered a lecture on 3 September 2013 on "The Economics of Inequality and Human Development." This policy lecture was organised by the Centre for the Microeconomic Analysis of Public Policy (CPP) and the Centre for Microdata Methods and Practice, two ESRC research centres hosted at the Institute for Fiscal Studies (IFS). With support from University College London (UCL) and hosted by the British Academy.
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very advanced Wow Some Genius !
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Thanks! This helped with my insomnia
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Poor micing ruins this video; his voice goes from the right side of my laptop to the left side of my laptop depending on which side he's leaning. It will sometimes switch channels in the same sentence! I know this is a small problem, but a truly annoying one, and more so as it is so easily fixed. (Easy for them to fix, difficult for me to change on my computer). Please mic your speakers better, or put all your audio on equal LR channels. Just something to think about.
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What is missing from the analysis presented is degree to which wealth and income are redistributed from those who produce it to renter non-producers. The source of this initial and unjust redistribution is the system of property law and taxation that secures and rewards landed privilege and rent-seeking behavior. A moral case can be made for a labor and capital goods basis for private property. Access to nature is (and out to be protected as under law) the birthright of all persons equally. The reality for centuries is one of a concentrated control over land and natural resources, with the overwhelming majority of people in every country landless or nearly so. The solution was offered by none other than Adam Smith, who echoed what Henry George would campaign for a century after Wealth of Nations: the public collection of the rent of land.
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Heckman needs to update his data. The highschool graduation rate has risen significantly in the past 15 years
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