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timeletsTIL that the human capital theory of labor is no longer applicable. Instead, we should use the Thurow's model of the job market. I think the model would provide a plausible explanation for the 2016 election results:
When jobs are scarce competition among workers intensifies. The perception is that if you are a straight white man you are the last one in the queue.
This idea should be fairly easy to test in the field.
...the level of job in the job queue that is available to an individual will depend not simply on how much education – or thus human capital – he or she has acquired but on how much relative to others in the labour queue or, in other words, on his or her position in this queue (Thurow, 1983: 95-7).
When jobs are scarce competition among workers intensifies. The perception is that if you are a straight white man you are the last one in the queue.
This idea should be fairly easy to test in the field.
