The emergence of a global knowledge-based economy has given rise to drastic changes in both higher education and employment. On one hand, governments in advanced societies have launched policies to expand higher education to compete internationally in educating and attracting highly skilled workers. At the same time, both global economic…

Evidence from North American pay practices was used to examine the question of whether the "old employment contact," according to which employees promised to exchange hard work for job security, has truly been replaced by a "new employment contract" based more on market forces. The study analyzed data from the following…