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Who was Theodore William Schultz?

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Theodore William Schultz (1902-98) was awarded Nobel Prize in Economic Sciences in 1979 (jointly with Arthur Lewis) for his pioneering research in economic development with particular consideration for the problems of developing countries.

His work on development economics focussed on the role of agriculture and education and access to health care in economic development. Schultz was the first economist to systematise how education can affect productivity in the economy. He inspired a lot of work in the field of Human Capital.

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