Discuss the trend towards "credentialization" (Credentialization is when employers raise the educational requirements for a given job-for example, deciding that a bachelor's degree is now required, when a high school diploma used to toe enough-even when the required skills for the job remain the same. Why is this occurring and who is disadvantaged by this trend?

Discuss the trend towards "credentialization" (Credentialization is when employers raise the educational requirements for a given job-for example, deciding that a bachelor's degree is now required, when a high school diploma used to toe enough-even when the required skills for the job remain the same. Why is this occurring and who is disadvantaged by this trend?

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter26: Earnings, Productivity, And The Job Market

Section: Chapter Questions

Problem 7CQ

See similar textbooks

Similar questions

Explain your answer comprehensively about the question stated below: Suppose Congress were to mandate that all employers had to offer their employees a life insurance policy worth at least $50,000. Use Economic Theory and concepts, both positively and normatively, to analyze the effects of this mandate on employee well-being. How this mandate will influence or affect poverty, wages, labor migration, and economic growth.
Suppose there are two types of jobs in the labor market: “safe” jobs and “risky” jobs. Describe how the worker decides whether to accept a safe job (where she cannot be injured) or a risky job (where she will certainly be injured).
“The unemployment rate dropped to 6.6 per cent in January 2022, which is lower than the pre-pandemiclevels of 7.2 per cent in January 2020. However, the reason behind the dip in unemployment is not theaddition of jobs — rather, it was caused by the decline in the number of people looking for jobs. The numberof unemployed people fell by [6 600 000] in January 2022, as they stopped looking for jobs. Consequently,they were no longer counted as unemployed.”Source: https://www.indiatoday.in/diu/story/unemployment-rate-down-jobs-creation-job-seekers-1915703-2022-02-21Accessed: 21/02/22 1. The unemployment figure presented here is the… a) Seasonal unemployment.b) Narrow definition.c) Expanded definition.d) Real unemployment. 2. Demand-pull inflation can occur when…a) There is a shortage of investment and investors bid up interest rates.b) Inventories shrink and consumers bid up prices.c) There is a surplus of resources and so wages are bid up by employers.d) Undesired investment occurs. 3.…
The subject is Business Ethics 1. Explain what is meant by employment at will and explain in some detail the extent to which employment in the USA is governed by this doctrine. Explain what is meant by an employee moral right to due process and explain in some detail the sorts of things an employer might do in order to honor a moral right to due process. 2. When it comes to deciding what is an acceptably safe and healthy work environment, one possibility is to reject government regulation and oversight, and simply let ‘the free marketplace decide’, letting individual employers and employees bargain over this. Explain/illustrate what is meant by this proposal. Then explain at least two ethical concerns that could be raised in objection to it. Finally, briefly explain each of the following two approaches to setting the legal requirements on workplace safety and health standards: feasibility analyses and cost-benefit analyses. 3. Explain what is meant by an employee moral right to…
"Human capital theory is not so much wrong as it is incomplete." Explain this statement. What does the theory leave out? What are the strengths of the theory? What questionable assumptions does it make?
two theories of education: human capital and signaling. Economists have estimated fairly large "sheepskin" effects, where wages increase significantly when someone earns a degree. Do you think these sheepskin effects are consistent with the human capital theory of education or signaling? Carefully explain. Do you think these theories could both hold some merit in the real world? Carefully explain.
Nancy returns to school to study medicine. After graduating during an economic boom, she spends six months looking for a job. During this period, she is considered...
In a well-functioning market economy, who ultimately bears the cost of employment discrimination (failing to hire an otherwise qualified applicant due to an irrelevant variable), the employer or the applicant? Given this result, what is the optimal role for government regulation in hiring practices? Why? Be sure to consider costs and benefits in your answer. Consider University of Alabama football, what was the chief factor in integrating the football team, societal and regulatory pressures or results on the field?
Explain why a lump-sum government transfer can entice some workers to stop working (and entices no one to start working) while the earned income tax credit can entice some people who otherwise would not work to start working (and entices no one to stop working).
One way that the positive correlation between education and higher earnings can be interpreted is that education is… a.a waste of taxpayer money. b.a screening device that may not affect skills. c.an escape for those who don't want to work. d.a way of preventing income inequality.
Please draw and explain the life cycle path of hours worked for a person who, at age 40, suddenly wins 73 million dollar in the lottery. What would be that life cycle path of hours worked if he always knew that he would win the lottery?
1.) Many employers expect their employees to engage in "service," either at the work site or in the community, and indicate this either explicitly or implicitly at the point of hire and at other points during employment. What do you think it will mean to provide "service" and to be civically engaged as a career professional? What concerns, if any, do you have about this type of expectation? 2.) As you consider these expectations, and think about work under the new economy (e.g., flexible work, distance work), do you think that expectations related to service might change? As you respond, also think about how the pandemic has changed the work of many mid-level white collar professionals.