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the partial exception of Becker. I will generally prefer (5.3a), although the two are identical in meaning. Schultz’ analysis of consumption found consumption = invested consumption + pure consumption. (5.4) This plus (5.1) and (5.3a) combine for output = total growth + pure consumption = investment + human growth + pure consumption = investment + invested consumption + self-invested work — recovered human depreciation + pure consumption = investment + invested consumption + self-invested work - recovered human depreciation + consumption - invested consumption = investment + consumption + self-invested work — recovered human depreciation. (5.5) “EX post net”, as always, should be understood before both “output” and “investment”. Chapter 6 will revisit this logic once again, and add a second way to the same conclusion. The Growth Equation Under the Y Rule (5.1) can be arranged as total growth = output - pure consumption, (5.1a) as a counterpart to (4.1a). Total growth means growth in total capital. My argument continues as in Chapter 4. Since (4.2) was a blind alley, skip to (4.3). That now becomes Chapter 5 Bringing Human Capital In 1/13/16 7 HOUSE_OVERSIGHT_011026