James Heckman, the Henry Schultz Distinguished Service Professor in Economics, has received a $1.5 million grant from the Institute for New Economic Thinking, which was launched by philanthropist George Soros in response to the recent economic crisis.
With the grant, Heckman will initiate a three–year program of human capital and economic opportunity research. Using the funding, Heckman will work in collaboration with the Milton Friedman Institute for Research in Economics, to strengthen human capital development research, integrate the study of human capital with macro markets and build an international network of researchers from multiple disciplines.
Heckman’s work has examined the problem of skill development in the American work force. He and other economists have found that America is becoming an unequal society in terms of income, the skills of its people, and in the opportunities for advancement available to its citizens. That situation has undermined U.S. competitiveness, the economists contend.
—Prof. Jacqueline Stewart
