New survey shows intelligence and wealth not correlated...(its luck)

Thorgrim · 05-13-2007, 04:14 PM

I always hear BS talk about how it's all using your brain, that those with the best abilities rise to the top...untrue...our system is based mostly on luck:

You don't have to be smart to be rich. Individuals with below-average IQ test scores were just as wealthy as brainiacs, finds a national survey.

A person's IQ had no impact on their wealth. So even though the "rocket scientists" earned on average higher incomes, they didn't have the savings to show it. And in fact, some higher-IQ people had more problems with maxing out credit cards and missing bill payments.

Not too bright? You can still be rich - LiveScience - MSNBC.com

Happens all the time, guy on full ride to university degree ends up making pebbles because he doesn't have "connections" while people like Paris Hilton are not only born into wealth, but born into connections that allow them to earn even more obscene amounts of money that none of us could hope to earn even though her "ideas" are so bland and obvious rip-offs anyone here could be making millions if you simply had her little black book

Luck > Merit

Diesel66 · 05-13-2007, 04:17 PM

more like hard work and not doing stupid things with a side of luck > intellegence

Luck might put you in the position to be rich, but it usually takes hard work to get it.

Kytro · 05-14-2007, 02:55 AM

Originally Posted by Diesel66

more like hard work and not doing stupid things with a side of luck > intellegence

Luck might put you in the position to be rich, but it usually takes hard work to get it.

Hard work my arse. Knowing how money works more likely. This does not take a particularity smart person.

You can be a lazy, incompetent person and still make buckets of money

Thorgrim · 05-14-2007, 04:11 AM

Originally Posted by Kytro

Hard work my arse. Knowing how money works more likely. This does not take a particularity smart person.

You can be a lazy, incompetent person and still make buckets of money

It's all about who you know

My great grandparents worked their ass off in the mines their whole lives for pennies, no one worked harder than those people, yet robber barons sat back in their estates and had elaborate parties of obscene wealth while my relatives were basically slave labor...the late 19th century..."american capitalism" at its finest

Donkey® · 05-14-2007, 04:52 AM

Eh, I think we're all smart enough to know brain power has nothing to do with it. That's why I find it facinating that companies give college graduates more money than non college graduates. I have seen some pretty stupid people that hold master's degrees come in and out of my company. They had a degree but had no knowledge of how to function in the real world and it seems they lacked an ounce of street smarts.

On top of that, it is NOT possible for just anyone to become rich. I have seen a lot of hard workers just eek by an existance. I have seen a lot of lazy people luck into money and live large in life. So many factors have to go just right for people to become wealthy...it's a daunting task.

David Octavius · 05-14-2007, 10:45 AM

From the Article:

"Zagorsky suggests that the financial troubles [of very smart people] could be linked with an inability to save money."

What analysis!

My opinion is that for most its not what you know, but who you know and how to play the system. How many crappy managers got their position not because they are best qualified but knew someone or knew how to play politics and I've always said once you join the club (become a CEO or other upper management) your in for life regardless of your competency.

Then there are those few whether through their experience of being in a particular industry for a long time or who have very good business minds, finds a niche that no one else is fulfilling adequately and starts a sound business.

And then there are even fewer who worked their ass off for years, rose through the ranks and became the head person or part of upper management.

Of course this is just opinion but it makes sense to me

ballz2wallz · 05-14-2007, 10:54 AM

Chance favors the prepared mind.

lew · 05-14-2007, 10:58 AM

Originally Posted by Thorgrim

It's all about who you know

My great grandparents worked their ass off in the mines their whole lives for pennies, no one worked harder than those people, yet robber barons sat back in their estates and had elaborate parties of obscene wealth while my relatives were basically slave labor...the late 19th century..."american capitalism" at its finest

You know nothing of capitalism if you think that's what it is.

7960 · 05-14-2007, 11:02 AM

Originally Posted by Kytro

Hard work my arse. Knowing how money works more likely. This does not take a particularity smart person.

You can be a lazy, incompetent person and still make buckets of money

I know a guy.............

You can also be a genius and be flat broke. But overall average intelligence and a willingness to work hard will beat out lazy and incompetent.

7960 · 05-14-2007, 11:06 AM

Originally Posted by ballz2wallz

Chance favors the prepared mind.

"Luck favors the prepared."

-Edna Mode, The Incredibles

ballz2wallz · 05-14-2007, 11:09 AM

Originally Posted by 7960

"Luck favors the prepared."

-Edna Mode, The Incredibles

Mine was by Louis Pasteur

David Octavius · 05-14-2007, 11:13 AM

Originally Posted by lew

You know nothing of capitalism if you think that's what it is.

I agree that capitalism has many benefiting factors, but to think it doesn't need some regulations is silly, it leads me to believe that many libertarians don't really understand it all, at least the ones who believe in the total laissez faire type..those happen to be the same libertarians who think people like Ayn Rand and Milton Friedman would be in their corner.

[yes I know what I just did, waiting for my ass kicking]

7960 · 05-14-2007, 11:15 AM

Originally Posted by ballz2wallz

Mine was by Louis Pasteur

he was a hack.......... cartoon character quotes FTW