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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 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.