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Child labor and the education of a society

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We examine economic growth, inequality and education when the wellspring of growth is the formation of human capital through a combination of the quality of child-rearing and formal schooling. The existence of multiple steady states is established, including a poverty trap, wherein children work ful...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Hauptverfasser: Bell, Clive (VerfasserIn) , Gersbach, Hans (VerfasserIn)
Dokumenttyp: Article (Journal) Book/Monograph Arbeitspapier
Sprache:Englisch
Veröffentlicht: Bonn Institute for the Study of Labor (IZA) 2001
Schriftenreihe:IZA Discussion paper series 338
In: Discussion paper series (338)

Schlagworte:
Graue Literatur
Arbeitspapier
Online-Zugang:Resolving-System, kostenfrei, Volltext: http://hdl.handle.net/10419/21196
Volltext
Verfasserangaben:Clive Bell; Hans Gersbach

MARC

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520 |a We examine economic growth, inequality and education when the wellspring of growth is the formation of human capital through a combination of the quality of child-rearing and formal schooling. The existence of multiple steady states is established, including a poverty trap, wherein children work full-time and no human capital accumulation takes place, with continuous growth at an asymptotically steady rate as an alternative. We show that a society can escape from the poverty trap into a condition of continuous growth through a program of taxes and transfers. Temporary inequality is a necessary condition to escape in finite time, but long-run inequalities are avoidable provided sufficiently heavy, but temporary taxes can be imposed on the better-off. Programs aiming simply at high attendance rates in the present can be strongly non-optimal. 
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