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The Global AuctionThe Broken Promises of Education, Jobs, and Incomes$
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Phillip Brown, Hugh Lauder, and David Ashton

Print publication date: 2010

Print ISBN-13: 9780199731688

Published to Oxford Scholarship Online: May 2012

DOI: 10.1093/acprof:oso/9780199731688.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 September 2021

High Skills, Low Wages

High Skills, Low Wages

(p.113) Chapter Eight High Skills, Low Wages
The Global Auction

Phillip Brown

Hugh Lauder

David Ashton

Oxford University Press

This chapter considers the full impact of the global auction, as well as the influence of having access to college credentials. It examines the possibility that decreasing returns to human capital will be blamed on the aftermath of an economic crash instead of a secular shift in the global balance of economic power. This is followed by a study of the American corporate elites and those who do not have a college degree. The discussion also looks at earnings, which are part of the total rewards for workers. The chapter also examines human capital, the global middle class, the importance of the national context in shaping the global auction for American workers, and the introduction of new technologies as a source of income inequalities.

Keywords:   global auction, college degree, corporate elites, human capital, economic crash, economic power, earnings, global middle class, income inequalities

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