This paper is the first in a series of policy reports dealing with the impact of human capital investments on the U.S. labor market. It is part of a larger series of papers from the ETS Center for Research on Human Capital and Education that uses data from the "Programme for the International Assessment of Adult Competencies" (PIAAC) to…

It is generally accepted that human capital is an important factor in economic growth, but its impact on growth depends on the demand for education and skills on the labor market. Demand for human capital is largely determined by the institutional environment that governs the basic conditions for economic activity. The author expresses ten doubts…

Responses to a questionnaire survey of workers in a machine tool and parts company showed that internal labor market practices generally made a greater contribution to blue collar earnings than skill or knowledge acquired by workers before joining the firm. (Author/DS)