Skill Development and Sustainable Prosperity: Cumulative and Collective Careers versus Skill-Biased Technical Change

By Institute for New Economic Thinking (INET)

“With the widespread plant closings of the 1980s, the loss of these “middle-class” employment opportunities was confined largely to blue-collar workers with high-school educations. As a group, members of the U.S. labor force with college educations always do better than those with high-school educations, but over the course of the 1980s the wage premium to having a college education expanded significantly.”…

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