Politics has been defined variously as organizing for human projects, struggle for power, or about who gets what, when, and how. Organizing for human projects gives politics a broader spectrum involving whatever humans do; the notion of struggle for power narrows the definition to the arena of authority in society; and the notion of who gets what, when, and how links politics to economics ( the...

We present a model of human capital investment within and across generations, with incomplete markets and government transfer programs. Our model combines a fairly standard life-cycle model of human capital with an intergenerational model à la Becker and Tomes (1986). The human capital technology features multiple stages of investment during childhood, a college decision, and on-the-job accumul...