Sociologists offer two competing explanations as to why people with more education reap larger socioeconomic rewards. What are they?

The Human Capital theory and the Allocation theory

Explanation:

The human capital theory is the set of knowledge, skills, and attitudes that favor work to produce economic value. These are the attributes acquired by a worker through education, expertise, and experience. This theory is one of the oldest ones that attempt to explain human wealth. On the other hand, the Allocation theory understands that human wealth, more than just education, is the tendency to allocate resources, and use them as necessary during the time.