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The Declining Educational Wage Premium and the Labour Process: Evidence from 15 Selected OECD Countries

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  • Ioannis Vardalachakis

    (Department of Economics, Aristotle University of Thessaloniki, University Campus, 54006 Thessaloniki, Greece)

  • Persefoni Tsaliki

    (Department of Economics, Aristotle University of Thessaloniki, University Campus, 54006 Thessaloniki, Greece)

Abstract

In the present paper we assess the validity of the dominant upskilling approach, according to which the technological advancements upgrade the skills demanded in labour process and lead eventually to higher remuneration and employment for skillful workers. However, the results from 15 OECD countries show that the skill-premium received by tertiary educated workers fails to serve as a possible interpretation of the widening wage differentials. The findings encourage research within the classical political economy deskilling according to which wages are determined by thesocially necessary labour time required for their skill acquisition.

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  • Ioannis Vardalachakis & Persefoni Tsaliki, 2015. "The Declining Educational Wage Premium and the Labour Process: Evidence from 15 Selected OECD Countries," Bulletin of Political Economy, Bulletin of Political Economy, vol. 9(1), pages 55-67, June.
    • Handle: RePEc:awu:journl:v:9:y:2015:i:1:p:55-67
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