My work on human capital began with an effort to calculate both private and social rates of return to men, women, blacks, and other groups from investments in different levels of education.

The Treatise tries to analyze not only modern Western families, but also those in other cultures and the changes in family structure during the past several centuries.

Why in almost all societies have married women specialized in bearing and rearing children and in certain agricultural activities, whereas married men have done most of the fighting and market work?

Even a wizard would have a great deal of difficulty repealing the economic law that higher minimum wages reduce employment. Since politicians are not wizards, they should not try.

Fines are preferable to imprisonment and other types of punishment because they are more efficient. With a fine, the punishment to offenders is also revenue to the State.

I am saying that the economic approach provides a valuable unified framework for understanding all human behaviour

A stronger yuan could lead to greater Chinese asset accumulation in the U.S. and elsewhere.