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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: 0) by Anonymous Coward on Thursday December 29 2016, @03:04AM
http://philip.greenspun.com/bg/ [greenspun.com]
"William Henry Gates III made his best decision on October 28, 1955, the night he was born. He chose J.W. Maxwell as his great-grandfather. Maxwell founded Seattle's National City Bank in 1906. His son, James Willard Maxwell was also a banker and established a million-dollar trust fund for William (Bill) Henry Gates III. In some of the later lessons, you will be encouraged to take entrepreneurial risks. You may find it comforting to remember that at any time you can fall back on a trust fund worth many millions of 1998 dollars. "
Dumpster diving to read other people's source code helps too:
http://patch.com/california/losaltos/microsoft-co-founder-paul-allen-recounts-his-days-of-7a8784789a [patch.com]
"That phase of Allen's life involved taking the bus–sports coat, tie, leather briefcase and all—down to the offices of local computer gurus. “I would boost Bill into dumpsters and we'd get these coffee-stained texts (of computer code)” from behind the offices, grinned Allen."