Using the Human Capital theory:
1. Explain why firms in developing countries are more paternalistic.
2. Explain why teenagers tend to accumulate low wages yet proportionally higher human capital than adult workers.
3. Explain why some people who stay in college longer must be paid longer (and visa versa).
4. Explain why people who have greater natural ability are (should be?) paid more and/or given more opportunities to develop their human capital.
5. Explain why a person might become a professor, even though PhD's typically require more time and research than M.B.A.'s, law degrees, and even some other doctorates (like PsychD's)?
1. This is because laborers in the Third World nations feel that they are in greater need of "help" due to living in a less human capital intensive environment, and somehow they believe that an imperfect aggregation of low human capital individuals (i.e. the government or firm) can provide this help.
2. Teenagers and other relatively young workers often change jobs due to circumstantial or social factors (which, in a very loose sense, is itself potentially human ...
These are 5 separate questions & answers on the topic of human capital. I give the formal theoretical explanation for each question, support the answers with examples, and offer several addition alternative explanations.