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Education in Korea: efficiency vs. equity
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- Authors
- Issue Date
- 1990
- Citation
- Korean Journal of Policy Studies, Vol.5, pp. 53-68
- Abstract
- This paper attempts to analyse the effects of education on income distribution
in Korea. The human capital theory suggests that an unequal distribution can be
reduced by improving the distribution of education because variations in labor
income are due to the differences in labor quality in terms of the amount of
human capital, espcially education, acquired by the workers.
On the other hand, a general skepticism about the role of education also can be
observed. Thurow, for instance, has shown that in the United States, a country
which is a prominent example of educational expansion, schooling has had only a
negligible effect in reducing income inequality, although education constitutes one
of the key elements in economic growth. Critics of human capital theory, one
example is the labor market segmentation theory, asserts that education cannot
improve earnings inequality unless other institutional factors, such as occupational
earnings structure, are changed. By investigating those two approaches, we can
assess whether education can be used as a policy tool to improve the earnings
distribution.
- ISSN
- 1225-5017
- Language
- English
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