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Business & Economics Education

Information in the Labour Market

Job-Worker Matching and Its Implications for Education in Ontario

by (author) James Davies & Glenn MacDonald

Publisher
University of Toronto Press
Initial publish date
Dec 1984
Category
Education, General, Theory, Labor, Training
  • eBook

    ISBN
    9781442638051
    Publish Date
    Dec 1984
    List Price
    $27.95

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Description

This study uses a simple model of information gathering to generate policy recommendations concerning education in Ontario, especially at the post-secondary level. The schools are viewed as helping students discover jobs matched to their abilities, and policy prescriptions are offered from that standpoint.

 

After examining earlier economic models of education – seeing it in terms of human capital and signalling – the authors analyse their informational model. In the light of the three theories of education, they then proceed to examine the appropriate role of government in the education market, and offer their policy recommendations. In addition, trends in the structure of education over the last two decades are studied and explained from the economic point of view. They argue that too much has been spent on formal education and not enough on on-the-job-training, but the answer is not more government intervention or vocationalism. Education policy should encourage free choice and an increasing ability to match interests or skills with jobs. Vocationalism merely hinders the latter and endangers economic well-being in the long term.

About the authors

James B. Davies is a member of the Department of Economics at the University of Western Ontario.

James Davies' profile page

Glenn M.T. MacDonald is the John M. Olin Distinguished Professor of Economics and Strategy at the Olin Business School, Washington University in St. Louis.

Glenn MacDonald's profile page