Final answer:
True, a country could be overinvesting in human capital if highly educated individuals cannot find jobs that match their skill level, which is indicative of an educational-job market mismatch.
Step-by-step explanation:
It may be true that a country is overinvesting in human capital if individuals with high levels of education, such as a Ph.D. in philosophy, are unable to find work commensurate with their qualifications and end up in roles like managing a restaurant. This situation could indicate a mismatch between the educational system's output and the job market's requirements, implying that the investment in education is not translating into suitable job opportunities. In low-income countries, the challenge is exacerbated as there is often a lack of funds for investing in human capital, and even basic educational setups can be insufficient. Additionally, the phenomenon of 'McDonaldization' illustrates how service jobs can be oversimplified and dehumanizing, which also suggests that jobs available may not utilize the potential of a highly educated workforce.