The birth of economics of education was announced by

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answered Mar 2, 2022 by ShreeHarpale (240k points)
selected Mar 2, 2022 by PrashantPandey

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Correct Answer - Option 3 : Schultz

The correct answer is Schultz.

Theodore William Schultz was an American economist and the chairman of the Department of Economics at the University of Chicago.
After winning the Nobel Memorial Prize in Economic Sciences in 1979, Schultz ascended to national celebrity.
Prior to 1958, "human capital" was little more than a euphemism in economics, and it had no bearing on educational policy debates.
There was an active theoretical and empirical human capital research programme in economics within five years.
During the same time period, opinion leaders, policymakers, and even a President eagerly promoted the new idea of public expenditure on education as a sort of investment with a proven high rate of return and the ability to contribute to the achievement of vital national goals.