Over the course of his career, George Psacharopoulos has made a deep impact on the way education is viewed in relation to economics and developing nations. Psacharopoulos was born in 1937 in Athens, Greece. He obtained a B.A. degree in 1960 in his home country before coming to the U.S. for graduate school. He received both his M.A. and Ph.D. degrees in economics from the University of Chicago in 1964 and 1968, respectively. Early on, Psacharopoulos took an interest in the economics of education, particularly in the returns of education across various nations. His conception of how investment in education can be approached has helped shape and influence research studies and policy formation, especially as they relate to developing nations. Psacharopoulos’ use of human capital theory and his focus on the macro planning of education has been an integral part of his work and scholarship. He views human capital development through education as a means to a more productive society. Psacharopoulos contends that economics is an integral utility in the process of educational planning, particularly because it may guide planners in determining resource allocation in determining the optimal means for efficient and effective school systems. Psacharopoulous is a prolific writer, with over 500 publications.
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