Human Capital, Fertility, and Economic Growth (original) (raw)

This research explores the relationship between human capital, fertility, and economic growth, challenging traditional Malthusian and neoclassical models. It posits that investments in human capital are central to economic growth, with the rates of return on such investments increasing until a certain threshold of human capital is reached. The framework developed suggests the existence of multiple steady states, linking fertility rates to levels of human and physical capital, and implying that higher levels of education can lead to lower fertility, which in turn enhances economic development.