The birth of economics of education was announced by

The correct answer is Schultz.

Key Points

• Theodore William Schultz was an American economist and the chairman of the Department of Economics at the University of Chicago.
• After winning the Nobel Memorial Prize in Economic Sciences in 1979, Schultz ascended to national celebrity.
• Prior to 1958, "human capital" was little more than a euphemism in economics, and it had no bearing on educational policy debates.
• There was an active theoretical and empirical human capital research programme in economics within five years.
• During the same time period, opinion leaders, policymakers, and even a President eagerly promoted the new idea of public expenditure on education as a sort of investment with a proven high rate of return and the ability to contribute to the achievement of vital national goals.