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What's the 'Rate of Return' on Social Skills? - James Heckman

Complete video at: Economist James Heckman links "soft skills" such as perseverance, attention, motivation, and self-confidence to "success in society at large." Heckman argues that investing in socio-cultural skills will provide more "economic and social return" than investing in social programs or infrastructure. ----- Nobel Prize-winning economist James Heckman delivers a talk titled "Schools, Skills, and Synapses: An Economists Perspective on Early Childhood Education and Development" at the 2009 Chautauqua Institution Summer Lecture Series. - Chautauqua Institution James J. Heckman is the Henry Schultz Distinguished Service Professor of Economics at The University of Chicago where he has served since 1973 and where he directs the Economics Research Center and the Center for Social Program Evaluation at the Harris School. His work on the use of microeconomics for development of public policy garnered the 2000 Nobel Memorial Prize in Economic Sciences (with Daniel McFadden). Heckman's recent research focuses on human development and lifecycle skill formation, with a special emphasis on the economics of early childhood. This work has given policymakers important new insights into such areas as education, job-training programs, minimum-wage legislation, anti-discrimination law and civil rights.
Length: 04:57


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