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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 Dunbal on Wednesday December 28 2016, @10:37PM
Yup, money isn't everything and modesty isn't all that bad of a quality. I'm not rich but I'm lucky enough to be a free man as in I can spend my days doing what I want, when I want. Anyone with a bigger bank account than me who is stressed all the time or frustrated with life is missing the point of being alive in the first place. Admittedly there are those few who only feel alive under maximum stress but they're the exception.