Wage returns to university disciplines in Greece: are Greek Higher Education degrees Trojan Horses?

This paper examines the wage returns to qualifications and academic disciplines in the Greek labour market. Exploring wage responsiveness across various degree subjects in Greece is interesting, as it is characterised by high levels of graduate unemployment, which vary considerably by field of study, and relatively low levels of wage flexibility. Using micro-data from recently available waves (2002-2003) of the Greek Labour Force Survey (LFS), the returns to academic disciplines are estimated by gender and public/private sector. Quantile regressions and cohort interactions are also used to capture the heterogeneity in wage returns across the various disciplines. The results show considerable variation in wage premiums across the fields of study, with lower returns for those that have a marginal role to play in an economy with a rising services/shrinking public sector. Educational reforms that pay closer attention to the future prospects of university disciplines are advocated

State education as high-yield investment: human capital theory in European policy discourse

Human Capital Theory has been an increasingly important phenomenon in economic thought over the last 50 years. The central role it affords to education has become even more marked in recent years as the concept of the ‘knowledge economy’ has become a global concern. In this paper, the prevalence of Human Capital Theory within European educational policy discourse is explored. The paper examines a selection of policy documents from a number of disparate European national contexts and considers the extent to which the ideas of Human Capital Theory can be seen to be influential. In the second part of the paper, the implications of Human Capital Theory for education are considered, with a particular focus on the possible ramifications at a time of economic austerity. The paper argues that Human Capital Theory risks offering a diminished view of the person, a diminished view of education, but that with its sole focus on economic goals leaves room for educationists and others to argue for the educational, social, and moral values it ignores, and for the conception of the good life and good society it fails to mention

Copyright and brands in the digital age: Internalizing the externalities of meaning

Article first published online: 5 DEC 2011CERNA WORKING PAPER SERIES 2010-11International audienceThe adoption of binary code as the universal standard for globalized communications generates highly positive externalities often referred to as network effects. But what about meaning? What are the externalities associated with the formatting and circulation of meaning, and are they, too,all positive? Within the digital paradigm, is it really possible to separate the notion of expression -- covered by copyright -- from the meanings it creates? Isn't meaning heavily dependent on the concept of brand? And if so, how do copyright and trademark institutions work together to stimulate and promote meaningful information? To answer these questions, we will look at how the meaningful forms of expression -- the works -- that have historically been covered by copyright generate specific types of externality, both positive and negative, giving rise to both incentive and censorship mechanisms. We will then show how the institutions of copyright and author's rights that allow the appropriation of a meaningful good also confer a brand on it, identifying its sources. This leads to mixed externalities from both directions, with the result that copyright and trademark institutions cannot be fully separated from each other

Juntar erarios y montes de piedad: un arbitrio barroco ante las Cortes de Castilla

Editada en la Fundación Empresa PúblicaLas dificultades financieras de la Corona española en el Siglo de Oro favorecieron la propuesta de emparejar los ya conocidos montes de piedad con unos nuevos «erarios públicos», que facilitarían fondos a la Corona y a los particulares sin caer en la práctica nefanda de la usura, contratando a censo y no a préstamo. Las Cortes de Castilla comenzaron apadrinando el proyecto, pero lo hundieron para evitar que el Conde Duque de Olivares lo convirtiese en un instrumento de recaudación coactiva de la Hacienda. Queda patente que las Cortes de Castilla mantenían sus poderes de resistencia un siglo después de la derrota de Villalar. Por eso, los memoriales de los arbitristas no eran dirigidos sólo al Rey y sus ministros, sino también a las Cortes, que reflejaban una opinión pública muy viva y sensible. El análisis del contrato de censo, con el que se evitaba la condena teológica de la usura, ayuda a trazar la lenta penetración del espíritu capitalista en la España barroca.Given the financial difficulties of the Spanish Crown in the 17th century, a willing ear was turned to proposals for combining Italian type Monti di Pietà with Crown chartered erarios, to finance both the Crown and private borrowers: nefarious usury was avoided by granting loans under the guise of a mortgage or lien. The Cortes of Castille favoured the project, but later scuppered it to stop the Count Duke of Olivares from using it as a taxing device. The study makes it clear that the Cortes kept their powers of resistance for a century after the rout of the Comuneros at Villalar: hence the abundance of projects addressed to the Cortes and a lively and sensitive public opinion, beside those addressed to the King and his ministers. The analysis of loans granted under mortgages and liens helps map the slow progress of the spirit of capitalism in baroque Spain.Publicad

Economics of education research: a review and future prospects

In this paper we offer an appraisal of the economics of education research area, charting its history as a field and discussing the ways in which economists have contributed both to education research and to education policy-making. In particular, we highlight the theoretical and methodological contributions that economists have made to the field of education during the last 50 years. Despite the success of the economics of education as a field of inquiry, we argue that some of the contributions made by economists could be limited if the economics of education is seen as quite distinct from the other disciplines working in the field of education. In these areas of common interest, economists need to work side by side with the other major disciplines in the field of education if their contribution to the field is to be maximised, particularly in terms of applying improved methodology. We conclude that the study of education acquisition and its economic and social impact in the economics of education research area is very likely to remain a fertile research ground. Acknowledgement