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If You're So Smart, Why Aren't You Rich?

From bloomberg.com

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, ... (full story)

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