ehind the put. From: Jeffrey Epstein lmailto:jeevacationatinail.confl EFTA_R1_00471154 EFTA01982186 Sent: Friday, October 22, 2010 04:55 AM To: Mincer, Torn Subject: I. having a call on nick shares, even if it is a highher strike, different time, different terms, woudl leave him in-but out. 2. a

s present value of future pay less spending on future childhood nurture plus textbooks or tuition or job training (collectively called “schooling” by Mincer) invested in human capital. Ben-Porath knew that, as had others before, but reasoned that investment in anything must stop when not enough time remai

implify. But I just showed why I model all consumption after, or anyhow after a few months of job training, as Schultz’ pure kind. Here I would fault Mincer and his pupil Becker, but not Schultz or Ben-Porath, for too much focus on the potential of job training. It exists and is crucial. But it is so smal

ght have room for him. Am I being too tough on later economists? We should not forget Schultz and Ben- Porath. Schultz’ greatest achievement, unless Mincer beat him, was in spotlighting human depreciation. That left me to ask where this huge flow goes. The answer becomes inescapable once we focus on the