Abstract
The aim of this article is to examine critically—through a review of human capital and screening theories—the foundation of factional pressures for upgrading educational credentials in the labour market. The article refers back to the writings of Adam Smith to show that not only do the claims of the beneficial and productive social effects of educational upgrading need questioning but that these have been so questioned for more than 200 years.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
References
Arrow, Kenneth, J. (1974). “Higher education as a filter,” pp. 51–74 in Keith G. Lumsden (ed.),Efficiency in Universities: The La Paz Papers, Amsterdam, Elsevier.
Auchmuty Report (1980).Report of the National Inquiry into Teacher Education. Canberra: AGPS.
Becker, Gary, S. (1964).Human Capital. New York: NBER.
Berg, R. (1971).Education and Jobs: The Great Training Robbery. Boston: Beacon Press.
Berg, R. (1971). “The licensing of paraprofessionals, the ‘visible and hidden agendas’,”Education and Urban Society 111 (1): 104–118.
Blaug, Mark (1972a). “The correlation between education and earnings: what does it signify?”Higher Education 1: 53–77.
Blaug, Mark (1972)b. The economics of education in english classical political economy: a re-examination,” inEssays on Adam Smith: Bicentenary Edition of the Works of Adam Smith, University of Glasgow 1973–1976.
Davis, D. J. (1977). “The Distributive Functions of Education in the Labour Market”, Unpublished submission to Williams Committe (1979).
Denison, Edward J. (1963). “Measuring the contribution of education (and the ‘residual’) to economic growth,” in M. J. Bowman et al. (eds.),Readings in the Economics of Education. Paris: Unesco.
Dore, Ronald (1976a).The Diploma Disease. London: George Allen and Unwin.
Dore, Ronald (1976b). “Human capital theory, the diversity of societies and the problems of quality in education,”Higher Education 5 (1): 79–102.
Ferguson, Adam (1983).Essai sur l'histoire de la societe civile, Paris, cited in Karl Marx,The Poverty of Philosophy inCollected Works. Lawrence & Wishart, London 1976, Vol. 6, p. 181.
Inkeles, Alex and Smith, David K. (1974).Becoming Modern: Individual Change in Six Developing Countries. London: Heinemann.
Kiker, B. F. (1966). “The historical roots of the concept of human capital,”Journal of Political Economy LXXIV (5): 481–499.
Layard, R. and Psacharopoulos, G. (1974). “The screening hypothesis and the returns to education,Journal of Political Economy 82 (5): 985–998.
Marshall, Alfred (1961).Principles of Economics, 8th edn. New York: Macmillan.
McClelland, D. C. (1961).The Achieving Society. Princeton: Van Nostrand.
Miller, S. M. (1968). “The credentials trap,” in P. C. sexton (ed.),Readings on the School in Society. New York: Prentice Hall.
OECD (1976).Selection, Certification and Credentialism, Secretariat report.
Piore, M. (1973). “Notes for a theory of labour market stratification,” pp. 125–150 in R. C. Edwards, Michael Reich and David Gordon (eds.),Labour Market Segmentation. Lexington Books.
Reich, Michael, Edwards, R. and Gordon, D. (1973). “A theory of labour market segmentation,” American Economy Review 63 (2): 359–365.
Rosenberg, Nathan (1960). “Some institutional aspects of theWealth of Nations,”Journal of Political Economy LXVIII (6): 567–570.
Rosenberg, Nathan (1960). “Adam Smith on the division of labour: two views or one,”Economica XXXII (126): 127–139.
Schultz, T. W. (1961). “Investment in human capital,”American Economic Review LI (1): 1–17.
Seligman, R. A. (ed.) (1910).Adam Smith: The Wealth of Nations. London: Dent and Sons.
Skinner, Andrew (ed.) (1910).Adam Smith: The Wealth of Nations. Harmonsworth: Penguin.
West, E. G. (1964). Adam Smith's two views on the division of labour,”Economica XXXI (121): 23–32.
West, E. G. (1964).Adam Smith: The Man and His Works. New York: Arlington House.
Williams Report (1979).Education, Training and Employment: Report of the Committee of Inquiry into Education and Training. Canberra: AGPS.
Author information
Authors and Affiliations
Additional information
While accepting full responsibility for the views expressed in this article, I would like to acknowledge the advice given to me in the final preparation of the draft by Professors M. Blaug and P. J. Foster.
Rights and permissions
About this article
Cite this article
Davis, D.J. Back to beginnings: Credentialism, productivity, and Adam Smith's division of labour. High Educ 10, 649–661 (1981). https://doi.org/10.1007/BF01676862
Issue Date:
DOI: https://doi.org/10.1007/BF01676862