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Economic significance of education in the context of the theory of social capital and interest groups

Economic significance of education in the context of the theory of social capital and interest groups

Journal of Economic Regulation, , Vol. 5 (no. 3),
p. 55-67

The paper deals with factors that determine value of education in terms of concept of education as a signal and concept of social capital. Specificity of higher education and evolution of its importance from the forming the elite to the mass education of specialists have been studied in the context of the above concepts. Differences in views of importance and optimal organization of higher education are shown by using the concept of interest groups. Trends of change of dominant interest group size in Russian higher education are examined. Some problems, that hinder the improvement of efficiency of Russian higher education, are revealed.

Keywords: higher education; education signals; social capital; interest groups

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