RiverDad
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Yes it does. It says very loudly that you do not know what you are talking about and its all double talk and has less utilitarian value than a bag of manure.
But then , what else is new?
Inequality and ability
In fact, the variance of the unobserved sector-specific skill now decreases in both the professional and service sectors, while increasing very slightly in the blue-collar sector. The addition of IQ into the analysis reduces the returns to education, particularly for 1992, so that there is virtually no appreciable increase in the return to education in either sector after controlling for IQ. The increasing return to education found in Table 6 is now picked up by the increasing return to IQ in the professional and service sectors
What the research show is that there is an increase in income tied to a person's education. When the analysis controls for IQ the return to education drops. This strongly suggests that employers are rewarding people with higher pay, not for their education credential or the specific skills which they may have learned via education, but instead for their general thinking ability.