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  • Title: Comments on "Investing in All the People".
    Author: Khan MA.
    Journal: Pak Dev Rev; 1992; 31(4 Pt 1):394-400. PubMed ID: 12318398.
    Abstract:
    Comments on Professor Summers lecture on the education of women were directed to female mortality, economic incentives, choices, costs, and societal changes. Professor Summers drew attention to low female survival in developing countries in terms of the economics of households approach (Chicago-Columbia approach) and the G. Becker and T.W. Schultz approach. Children are viewed as having different levels of education and hence different shadow prices and demand and supply. There was a conscious avoidance of cultural and moral aspects. At the macro level, there is evidence of ignorance, poverty, high mortality, and high fertility which can become a virtuous circle with increasing education leading to low mortality and fertility rates. The author's research provided insight into the inadequacy of the variable EC (couples commitment to the education of their children) as a measure of differences in shadow prices of boys and girls. The measure is a presumption of intent and willingness, without consideration of the cost of dowry for the daughter at marriage. The principal findings were that there was a negative inducement for wanting additional children when there were sons by about 3 times. The probability of wanting additional children was 78.2 for a family with no children and 1.6% for a family with 7 sons. The probability was 40% for a family with 7 daughters, and becomes 1.6% only when there are 20 daughters. Of interest is what reasoning is used by the farmer in "rationally" choosing 7 sons over 7 daughters. The most interesting point in Professor Summer's position was the issue of girl's education being the "best" investment. Education is undersupplied and, hence, has a higher social return than any other public good. The observations were that this direction opens up many questions about the nature of the commodity being invested in and the methodology of welfare economics. Professor Summers' argument considered the speed with which enrollment rates could be increased and augment social change over time. It is pointed out that there is little distinction between scientific evaluation and citizen advocacy. Caution is urges that there are social and economic impediments to a desirable end, and cultural similarity is elusive and difficult to predict. The topic is as challenging as economics or human science.
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