- The Oxford Handbook of Skills and Training
- List of Contributors
- Introduction: Skills and Training: Multiple Targets, Shifting Terrain
- Disciplinary Perspectives on Skill
- Skill Builders and the Evolution of National Vocational Training Systems
- The Changing Meaning of Skill: Still Contested, Still Important
- A New Social Construction of Skill
- Measuring Job Content: Skills, Technology, and Management Practices
- Accreditation and Assessment in Vocational Education and Training
- Education and Qualifications as Skills
- Pre-Employment Skill Formation in Australia and Germany
- Skill Development in Middle-level Occupations: The Role of Apprenticeship Training
- What Is Expected of Higher Education Graduates in the Twenty-first Century?
- Employer-Led In-Work Training and Skill Formation: The Challenges of Multi-Varied and Contingent Phenomena
- Unions, the Skills Agenda, and Workforce Development
- A Working Lifetime of Skill and Training Needs
- Skill Under-utilization
- Business Strategies and Skills
- Measuring Skills Stock, Job Skills, and Skills Mismatch
- The Individual Benefits of Investing in Skills
- The Economic and Social Benefits of Skills
- Theorizing Skill Formation in the Global Economy
- Different National Skill Systems
- Skill Ecosystems
- Employment Systems, Skills, and Knowledge
- Skill Demands and Developments in the Advanced Economies
- Approaches to Skills in the Asian Developmental States
- Emerging Economic Powers: The Transformation of the Skills Systems in China and India
- Projecting the Impact of Information Technology on Work and Skills in the 2030s
- International Skill Flows and Migration
- Professional Skills: Impact of Comparative Political Economy
- Skills and Training for the Older Population: Training the New Work Generation
- Rethinking Skills Development: Moving Beyond Competency-Based Training
- Who Pays for Skills?: Differing Perspectives on Who Should Pay and Why
- Current Challenges: Policy Lessons and Implications
- Author Index
Abstract and Keywords
The chapter begins with an introduction of the basic Mincer, Shultz and Becker human capital model. Section 2 discusses two theories that question the model’s link between education and labour market skills. The first theory argues that the education is a device to signal to potential employers that the individual has high natural abilities that are unobservable to the employer while the second argues that education sorts workers into different labour markets that are segmented by wider socio-economic forces. Section 3 considers two more recent developments. The first involves sequential analysis in which the decision-maker learns more about his or her abilities and opportunities as a result of participating in education or training, while the second uses a ‘skill ecosystem’ metaphor to express how educational institutions, students, employers and policy makers can combine to sustain a high-skills, high-wage equilibrium or reinforce a low-skills, low-wage equilibrium.
Paul Dalziel is Professor of Economics in the AERU research centre of Lincoln University, New Zealand.
Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.
If you have purchased a print title that contains an access token, please see the token for information about how to register your code.