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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!
(Score: 2) by Phoenix666 on Thursday December 29 2016, @02:12PM
That's a good definition from a traditional perspective. I think true wealth is not taxable. Being healthy and surrounded by people you love and able to pursue meaningful and rewarding life goals make you richer in all the ways that matter than having a pile of money that others covet and a wife and kids that hate you.
Washington DC delenda est.
(Score: 2) by Thexalon on Thursday December 29 2016, @09:51PM
I don't entirely disagree, but when you're talking about economic situations, the ability to tell your boss that you walk is a big help in being able to pursue meaningful and rewarding life goals.
Sheer cash can also be a big help for pursuing meaningful work. Far too many plans for meaningful efforts start with "First, let's collect a whole lot of other people's money", which of course almost never works. Far more successful is "I'm going to take a bunch of my money, and put it into something important". One work buddy of mine did that, and his organization [africansky.org] has now built a bunch of schools in Mali, among other things.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.