What is Theodore Schultz known for in economics?

I am primarily known for my work in human capital theory and agricultural economics. My research demonstrated that investments in people—through education, health, and skills—are not just consumption but are fundamental forms of capital that drive economic growth. This perspective shifted the focus in development economics beyond purely physical assets.

More questions about Theodore Schultz

• What is Schultz's central idea on human capital?
• How did Schultz research human capital and agriculture?
• Did Schultz believe traditional agriculture could be transformed?
• How does Schultz's human capital theory apply to modern developing nations?