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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: 0) by Anonymous Coward on Thursday December 29 2016, @12:45AM

    by Anonymous Coward on Thursday December 29 2016, @12:45AM (#446908)

    Hmm, is rich wealth, and is wealth happiness?

    The author mistakes that smart people are supposedly more able to become rich, by the author's measure, and happier as a result. There are plenty of smart people that don't play to get a high score. They play to enjoy the game, even against people playing to win. And, people that enjoy the game often are winning even if they can't buy a yacht, and plenty of people with yachts are still seeking that next thing to briefly make them happy.