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posted by cmn32480 on Wednesday December 28 2016, @07:34PM   Printer-friendly
from the carry-a-four-leaf-clover dept.

How much is a child's future success determined by innate intelligence? Economist James Heckman says it's not what people think. He likes to ask educated non-scientists -- especially politicians and policy makers -- how much of the difference between people's incomes can be tied to IQ. Most guess around 25 percent, even 50 percent, he says. But the data suggest a much smaller influence: about 1 or 2 percent.

So if IQ is only a minor factor in success, what is it that separates the low earners from the high ones? Or, as the saying goes: If you're so smart, why aren't you rich?

Science doesn't have a definitive answer, although luck certainly plays a role. But another key factor is personality, according to a paper Heckman co-authored in the Proceedings of the National Academy of Sciences last month. He found financial success was correlated with conscientiousness, a personality trait marked by diligence, perseverance and self-discipline.

Why aren't you rich? You obviously slept with the wrong people!


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  • (Score: 1, Insightful) by Anonymous Coward on Wednesday December 28 2016, @09:04PM

    by Anonymous Coward on Wednesday December 28 2016, @09:04PM (#446854)

    Be disciplined - become a Boglehead - https://bogleheads.org/ [bogleheads.org].

    Start here: https://www.bogleheads.org/wiki/Getting_started [bogleheads.org].

    Continue to explore and learn. You may be greatly rewarded.

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