The Role of Families in Human Flourishing: A Conversation with James Heckman
With Katharine B. Stevens
EVENT
February 25, 2021
Event Description
Nobel Prize–winning University of Chicago economist James J. Heckman is internationally recognized for his groundbreaking research on early childhood, which is frequently highlighted in support of expanding early care and education programs to improve children’s outcomes. His well-known “Heckman Curve” is widely cited as showing a high return on public investment in those programs.
What is Dr. Heckman’s assessment of current proposals for providing publicly funded childcare and pre-K to all children from birth to kindergarten entry? And how does he view the role of families in children’s development? Do they, too, fit into the Heckman Curve? If so, how?
Please join AEI’s Katharine B. Stevens for a conversation with Dr. Heckman about what matters most for advancing all children’s well-being and success.
Event Summary
On February 25, AEI’s Katharine B. Stevens and Nobel prize–winning economist James J. Heckman of the University of Chicago discussed the key to promoting human flourishing and the theory underpinning his well-known Heckman Curve.
Dr. Heckman explained that human capital development occurs through a cumulative acquisition of both cognitive and social-emotional skills. Skill formation is a life-cycle process that begins in the womb and continues throughout life. Skills attained at one stage of life form the foundation for acquiring additional skills at later stages. Early investment in skill building therefore increases productivity of later investments because skill attainment at one stage enables higher levels of skill attainment at subsequent stages.
While the Heckman Curve is widely cited as describing return on investment defined as public spending on government programs, Dr. Heckman explained that it represents investment of any kind, both financial and otherwise. He stated that the most essential investment in building children’s early skills derives from family environments and, especially, parenting. Efforts to advance disadvantaged children’s development must focus, first and foremost, on boosting families’ capacity to foster their young children’s skills.
Event Materials
James J. Heckman and Marco Francesconi: “Symposium on child development and parental investment: Introduction”
James J. Heckman: “Promoting skills”
AGENDA
4:00 PM
Introduction:
Katharine B. Stevens, Visiting Scholar, AEI
4:05 PM
Conversation:
James J. Heckman, Henry Schultz Distinguished Service Professor of Economics, University of Chicago
Katharine B. Stevens, Visiting Scholar, AEI
4:55 PM
Q&A
5:15 PM
Adjournment
See Also
Op-Ed ~ April 9, 2021
Blog ~ June 19, 2019
Report ~ April 8, 2021