Business Cycles and Economic Crisis: The Case of Car Sales in Athens, Greece (2000-2012)

Panayotis Michaelides and Konstantinos Konstantakis

Bulletin of Political Economy, 2015, vol. 9, issue 1, 69-83

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.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:awu:journl:v:9:y:2015:i:1:p:69-83

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