Suppose an individual who left school at 16 earns more than a surgeon with 10 years of tertiary education.Such an outcome suggests:

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The fact that someone who left school at 16 earns more than a surgeon with 10 years of tertiary education suggests that chance and natural ability can be just as important as human capital in determining wages. It is possible that the person who left school early developed skills or talents that are highly valued in the labor market, while the surgeon may have specialized in a field with lower demand or faced other factors that limited their earning potential. While this outcome may seem surprising, it is not necessarily a sign of market failure or a lack of returns to education.

Suppose an Individual Who Left School at 16 Earns More