Relation

Theoretical Framework

Neoclassical economics argues that workers are compensated in direct proportion to their productivity, however, this perspective does not consider the conditions that enable individuals to achieve the full compensation of their qualifications. Accumulation of Human Capital (i.e., education) and the rise in income that follows higher levels of that capital is only fully maximized if the individual has access to enough social capital (i.e., proper contacts) which would enable them to maximize their accumulation of economic Capital. Access to social capital enables access to more collective resources, which helps individuals get ahead in ways that their own individual efforts often cannot.

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Updated 2021-02-27

Tags

Sociology

Social Science

Empirical Science

Science

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