Sunday, March 8, 2015
Trenton McCarthy, chapter 6, question 7
As Wheelen states, human capital is the most important when it come to wealth and growth. No human capital means no job (wealth). Accordingly, no job (wealth) means poverty. Whether it's education or natural ability, the fact of the matter is that less human capital leads to less income or growth compared to a man like Lebron or Bill Gates who have tons of potential in terms of human capital. This concept reminds me of a article I read about a college I might attend. This college has a high end education, ranked 50th in the nation. Why? It's because due to the quality human capital provided, graduates make roughly $18,000 more than other graduates from other schools. 1 in 8 students become CEOs after graduation. I realize now that people who complain about wealthy people taking all the money instead of spreading the wealth for the poor are in a way ignorant. Those rich business owners are creating jobs for you, essentially spreading wealth and helping the economy. Therefore if you are not making a lot of money, there are five excuses that you could use: 1) you have a criminal record, 2) you are crippled in some way, 3) you are just lazy and aren't mazimizing your full potential, 4) you simply don't desire a job that pays a lot of money, or 5) you just suck because you don't have any quality human capital.
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