Ehrlich Debuts Journal of Human Capital

BUFFALO, N.Y. -- A new academic journal founded and edited by Isaac Ehrlich, SUNY Distinguished Professor and University at Buffalo Distinguished Professor of Economics, has debuted from the University of Chicago Press.

Ehrlich's Journal of Human Capital is the first academic journal devoted to study of the economic effects of people's knowledge, skills, health and values -- attributes that make up human capital. To be published quarterly, the journal will be useful to economists, public policy analysts, social scientists, business journalists and others interested in the role of human capital in the economic life of the individual and the community, according to Ehrlich, chair of UB's Department of Economics and Melvin H. Baker Professor of American Enterprise in the UB School of Management.

Nobel laureate economist Gary Becker, considered the father of modern human capital theory, is on the journal's board of directors. According to Becker, the journal is a welcome addition to the field of economics because "human capital is the foundation of the modern knowledge economy."

Ehrlich helped pioneer the study of human capital and the creation of several new programs in the field of economics, including the economics of crime, the economics of longevity and value of life extension and the relation of human uncertainty to insurance.

Human capital, Ehrlich says, is "increasingly recognized in economics and other social sciences as a central economic and social asset.

"The Journal of Human Capital aims to explore the role of human capital in production, allocation and distribution of economic resources and in supporting long-term economic growth," he explains.

The journal's first issue includes an article by Ehrlich and Jinyoung Kim, UB visiting associate professor of economics, who investigated links between income inequality, family size and the family's investment in education. Other contributors include Becker and co-researcher Kevin Murphy who show the effects of education in the household compared to the marketplace. For more information about the journal, go to http://www.journals.uchicago.edu/JHC.

Ehrlich is funded by the New York State Office of Science, Technology and Academic Research and directs UB's Center of Excellence in Human Capital, Technology Transfer and Economic Growth and Development. The center focuses on the dynamic role of human capital in improving market efficiency and achieving persistent, long-term productivity growth at the firm, industry, region and economy-wide levels.

The center also conducts applied research addressing regional economic-development issues and challenges facing corporations in the Western and upstate New York economy. For more information about the center, go to http://www.head.buffalo.edu.

A UB faculty member since 1978, Ehrlich is the author of more than 50 articles in major refereed journals and collections. He is listed among the 100 most-cited economists on several published surveys and has been supported by numerous grants from the National Science Foundation and other federal agencies, including a major USAID grant to study economic development and the role of free enterprise.

The University at Buffalo is a premier research-intensive public university, the largest and most comprehensive campus in the State University of New York. UB's more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.