This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research. The volume, titled "Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education" (3rd Edition), was authored by Gary S. Becker and published by The University of Chicago Press. The ISBN is 0-226-04119-0, and the URL is http://www.nber.org/books/beck94-1. The chapter titled "Human Capital, Fertility, and Economic Growth" was written by Gary S. Becker, Kevin M. Murphy, and Robert Tamura, and is available at http://www.nber.org/chapters/c11239. The chapter spans pages 323-350 of the book. The chapter discusses the relationship between human capital, fertility, and economic growth. It argues that economic growth is closely linked to investments in human capital, which includes education and skills. The authors present a model that incorporates both human and physical capital, and shows how the returns on investments in human capital increase as the stock of human capital grows. This leads to multiple steady states: one with low human capital and high fertility, and another with high human capital and low fertility. The model also considers the endogeneity of fertility and the role of discount rates in determining investment decisions. The authors analyze the implications of their model, including the "brain drain" of educated individuals from poorer to richer countries, the "takeoff" period of rapid growth, and the role of shocks in determining economic development. They also discuss the importance of initial conditions and the role of luck in economic development. The analysis suggests that economies can move between different steady states depending on technological and other shocks, and that the growth process is path-dependent. The chapter concludes with a discussion of the implications of the model for understanding economic development and growth.This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research. The volume, titled "Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education" (3rd Edition), was authored by Gary S. Becker and published by The University of Chicago Press. The ISBN is 0-226-04119-0, and the URL is http://www.nber.org/books/beck94-1. The chapter titled "Human Capital, Fertility, and Economic Growth" was written by Gary S. Becker, Kevin M. Murphy, and Robert Tamura, and is available at http://www.nber.org/chapters/c11239. The chapter spans pages 323-350 of the book. The chapter discusses the relationship between human capital, fertility, and economic growth. It argues that economic growth is closely linked to investments in human capital, which includes education and skills. The authors present a model that incorporates both human and physical capital, and shows how the returns on investments in human capital increase as the stock of human capital grows. This leads to multiple steady states: one with low human capital and high fertility, and another with high human capital and low fertility. The model also considers the endogeneity of fertility and the role of discount rates in determining investment decisions. The authors analyze the implications of their model, including the "brain drain" of educated individuals from poorer to richer countries, the "takeoff" period of rapid growth, and the role of shocks in determining economic development. They also discuss the importance of initial conditions and the role of luck in economic development. The analysis suggests that economies can move between different steady states depending on technological and other shocks, and that the growth process is path-dependent. The chapter concludes with a discussion of the implications of the model for understanding economic development and growth.