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Isaac Ehrlich

Human Capital

Honors, Grants, and Awards

In 2006, Dr. Ehrlich was awarded the prestigious Faculty Development Grant from the New York Office of Science, Technology, and Academic research (NYSTAR), which he has used to establish a “Signature Center of Excellence on Human Capital, Technology Transfer, and Economic Growth and Development”. See Press release at

In December 2007, Dr. Ehrlich was appointed Founding Editor in Chief of the new Journal of Human Capital (JHC), by the Board of trustees of the University of Chicago Publications. The Journal is published by the University of Chicago Press, which publishes some of the top journals in Economics, including the Journal of Political Economy, the Journal of Law and Economics, and the Journal of labor Economics. See the webpage for JHC at:

In April 2007, Dr. Ehrlich was invited to deliver the Provost Lecture at the State University of New York at Stony Brook on the topic “Why the US became the Economic Superpower of the 20th Century, a Human Capital Approach”. See Provost letter and article at the Statesman.

1. Published Books, Book Chapters, and Monographs

The Mystery of Capital and the New Philosophy of Social Reality, edited by Barry Smith, David Mark, and Isaac Ehrlich, Open Court Publishing Company, Chicago , June, 2008.

The Problem of Development: A Conference of the Institute for the Study of Free Enterprise Systems, Isaac Ehrlich, editor, Journal of Political Economy, Vol. 98 (5), Part 2 (supplement), October 1990

Human Capital and Economic Growth, Isaac Ehrlich and Randall Lutter, eds. Proceedings of the Second Conference of the Institute for the Study of Free Enterprise Systems, SUNY at Buffalo, May 1989.

“On the Relation between Education and Crime” in Education, Income, and Human Behavior (1975), F. Thomas Juster, ed. (p. 313 – 338). See

2. Published Articles

*Note: many of these papers are freely downloadable from the following websites:

The Demand for Longevity and the Value of Life Extension, with Hiroyuki Chuma, Journal of Political Economy Vol. 98 (4), August 1990, pp.761-82.

Intergenerational Trade, Longevity, and Economic Growth, with F. T. Lui, Journal of Political Economy, Vol. 99 (5), October 1991, pp. 1029-1059.

Uncertain Lifetime, Life Protection, and the Value of Life Saving, Journal of Health Economics, Vol. 19 (3), May 2000, pp341-367.

Erratum to “Uncertain lifetime, life protection, and the value of life saving”: Journal of Health Economics 19 (2000) 341-367, Journal of Health Economics, Elsevier, vol. 20(3), pages 459-460.

Explaining Diversities in Age-Specific Life Expectancies and Values of Life Savings: A Numerical Analysis“, with Yong Yin, Journal of Risk and Uncertainty, Springer, vol. 31(2) 2005, 129-162.

“Endogenous Fertility, Longevity, and Economics Dynamics: Using a Malthusian Framework to Account for the Historical Evidence on Population and Economic Growth”, with Jinyoung Kim, Journal of Asian Economics, issue 15 (6) 2005, 789-806

The Mystery of Human Capital as Engine of Growth, or Why the US Became the Economic Superpower in the 20th Century,” NBER Working Papers 12868, National Bureau of Economic Research.

Why does Human Capital Need a Journal, with Kevin Murphy, Journal of Human capital, lead article, vol. 1, December 2007, pp. 1-9.

The Evolution of Income and Fertility Inequalities over the Course of Economic Development: A Human

Capital Perspective”, with Jinyoung Kim, Journal of Human Capital, Vol 1 (1) December 2007, 137-174.

Asset Management, Human Capital, and the Market for Risky Assets”, with William Hamlen Jr. and Yong Yin, NBER Working Papers # 14340, August 2008, forthcoming in Journal of Human Capital.

“The Role of Human Capital in Imperfectly Informed International Financial markets”, American Economic Review, vol. 100(2), May 2010.

“Private Information, Human Capital and Optimal Home Bio in Financial Markets”, Journal of Human Capital, University of Chicago press, vol 5(3), 2001.

3. Media Exposure of Work on Human capital

Appeared in Tom Keene’s Radio Show “Bloomberg on the Economy” on May 18, 2007

Featured in “Finance Magazine” of the TV Station TVB in Hong Kong on March 26, 2005, which focused on Isaac Ehrlich and Yong Yin’s recent study “Rationalizing Diversities in Age-Specific Life Expectancies and Private Values of Life Saving: a Calibrated Numerical Analysis”, NBER Working Paper #W10759, September 2004. A tape of the TV broadcast was sent to by the producer, Patricia Lai.

Interviewed by Business Times in Singapore on the role of human capital in the economic development of Singapore. The interview was published under the title “Singapore’s Secret Weapon: Education” on September 19, 2005.

The interview was followed by an editorial by Singapore’s Business Times titled “Sharpening Singapore’s Secret Weapon” on September 20, 2005.

Received a prominent mention in an influential Op-Ed article by David Brooks titled “A Human Capital Agenda”, published in the New York Times on May 15, 2007 and reproduced in a number of notable on-line publications and blogs. See article at

“Peering over the edge” Interview with the Spectrum, volume 58 issue 76, January 30, 2009, Appeared on the nationally broadcast radio program “Bloomberg and the Economy” on May 18, 2007 – at the invitation of the program director Tom Keene to discuss my work on human capital, which was cited by David Brooks in his New York Times on May 15, 2007.

“The Future of Democratic Capitalism – A Human Capital Perspective”, electronic publication by Isaac Ehrlich, Hong Kong Institue of Monetary Research, June, 2009.

TV interview in the program Money Mind on Channel News Asia on the topic of human capital with Sushila Krishnan, December 19, 2010