What constrains the rationality of the initial career investment decision factoring in expected lifespan and earnings?

Answer

Educational opportunities and the individual's socioeconomic background

While the initial occupational choice can be viewed as a rational investment decision, weighing expected lifespan against lifetime earnings, this rationality is never exercised in a vacuum. The options available to an individual are severely constrained by external, pre-existing factors. Specifically, access to higher education and one's initial socioeconomic standing dictate the range of career paths realistically available. Someone with limited educational access might be funneled into jobs characterized by high physical demands or low control sectors, meaning their 'choice' is path-dependent and predetermined by their starting position rather than purely by a rational assessment of future health outcomes versus income.

What constrains the rationality of the initial career investment decision factoring in expected lifespan and earnings?

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