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Post Reply Are Rich People Smarter?
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Posted 7/28/17 , edited 7/28/17
i would say those who earn the majority of their wealth are possibly often above average intelligence and/or put the extra effort into amassing their wealth
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30 / M / Sacramento, CA
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Posted 7/28/17

sundin13 wrote:

I think there is no doubt that there is a correlation.

Money can buy an education (which can earn intelligence).
Intelligence can earn money.


They definitely have advantages over the rest of us, but a good education doesn't always make on smart. Horses and water and all that.
Posted 7/28/17
This depends it could vary perhaps they got good schooling maybe they got some breaks or perhaps they
worked really hard to earn.the rich ones I have worked for invested or bought properties and became wealthy again it all
depends. There is also the case where some may be involved in modern day mafia or dirty money pools.
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Posted 7/28/17 , edited 7/28/17

eggrollsama wrote:

answer

yes


A random baby born yesterday into a rich family is more intelligent than you?

The vast majority of rich (especially in the west) inherit their wealth.

But of course, in our societies, especially in America, we like to pretend class doesn't exist. Especially generational classes.
Posted 7/29/17 , edited 7/30/17
There's been quite a few studies around this very same question. Though, the vast majority of them focused on the correlation between intelligence and wealth of a nation (rather than the individual). Unfortunately, many of these studies are antiquated by a decade or so and only focuse on the rise of the baby boomers (it's easier to get an overall, comprehensive view of one's worth once they're old enough to have retired from the government's perspective).

Zagorsky - "Do You Have To Be Smart To Be Rich: The Impact of IQ on Wealth, Income, and Financial Distress"

If you take a look at the above study, you'll find that they were able to find that while income and IQ scores were related that the results indicated that there isn't a link between IQ and wealth. A higher salary doesn't always equate to being "wealthy" from a socioeconomic perspective. The same study came to the conclusion that financial distress (meaning to live off of credit cards, frequently in debt, living outside of your means) doesn't show any significant difference when your IQ is higher. Which suggests that your likelihood of being in financial distress doesn't decrease or increase depending on your IQ.

Zagorsky's study is one of the most recent to have been published that focused on the individual (which is what this particular thread is about). While this study isn't absolute, it does a good job outlining some of the opinions in this overall thread. As others have mentioned, your intelligence (which is based off of the metric of "IQ") does have a correlation to income - as it's more likely that you are educated if you're intelligent (natural IQ and "grown" IQ through education means). This education is likely to yield a higher salary in the long-term. But the socioeconomic view of "wealth" isn't having a higher income but your net worth overall.

Net worth follows a basic equation: Assets - Liabilities (to simplify it). Assets are everything tangible that you own, liabilities include everything you owe. This means that even though you could be making $90,000 a year and you "own" a house that's worth $750,000 - that house can be either an asset (investment) or a liability (loan) depending on your long-term plan for it. This is why flipping real estate is such a popular market as it's the easiest one to manipulate (buy low, sell high). This is why net worth can quickly fluctuate depending on the markets you're investing in; as there's always a chance that your investment blows up (yay, money!) or it devalues faster than you can say "Bobwehadababyitsamonkey".
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Posted 7/29/17
They just think differently.
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Posted 7/30/17
Depends if self-made rich person or not. Many people who gets wealth through their own hard work usually (but not always see some airheaded celebrities) probably are more often than the general population. That being said a lot of wealth is inherited which really only has to due with dumb luck of the birth lottery.
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Posted 7/31/17
i'm not going off anecdotal evidence. i'm just saying that people give birth to people with similar traits. therefore if there is any correlation between wealth and intelligence it is safe to assume that people who come from wealth will be more intelligent on average. i might not be using empirical evidence however i think there are some thing that can be proved through valid explanation even if it lacks the facts. although you are right it would have made for a better point with this evidence i just think there is no problem with me stating what i have said.
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Posted 7/31/17
Not really

some say pretty weird stuff
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Posted 7/31/17 , edited 7/31/17
No, but they are educated differently. For example, there is a girl's Academy close to where I live that charges $17,000 per child a year (elementary school), and up to $21,000 per student for high school. They--like most schools of their caliber--do not use Common Core Standards that are legally imposed on the public school system. Heck, not even Bill Gates, a major supporter of Common Core, sends his kids to a school with those standards. The methods of teaching as well as the variety of courses in their curriculum are meant to polish them for the professional world one day. They are well read, well written, more rounded, and are taught on a more competitive level than students in the public school system. Thus, they are more ready for the competitive market and usually find themselves lined up for big careers--based on their education.

Unfortunately, for those graduating from public schools, there is a huge number of them who can barely read--nor who even see the importance of many of the classes they have. In fact, most college students are not qualified for college when they enter. The average American college graduate with a bachelor's degree performs "on a third world level," according to Michio Kaku. Heck, most college graduates today can't even pass a 6th grade elementary school graduation exam from the early 1900s. Most students today are just in school to get it over with. As a result, they are defenseless against those kids from wealthy schools--who grow up and end up running everything from politics to big business because they were qualified for jobs that many public school kids didn't even know existed. (A few do break this barrier, mind you--but they have to work extra hard for it). In public school, you're pretty much being polished to be common day labor these days. Though, not really even that. Many employers say graduates are not qualified for the jobs they go to school for. And, it's not really a political party thing--as this goes for both sides. It's about modern methods of education vs traditional methods.

So, in short--no. They're not "smarter," but they are better educated.

Fun Fact: The method of teaching Japan uses today that has kept them at the top in education internationally was actually developed in the United States. However, because of government influence in the method of education, these practices were never implemented in the United States. In fact, Dr. Akihiko Takahashi came to the United States in the 90s to further his study of education based on the American principals they use, but was shocked to find schools didn't use the process our own country developed. Instead, American schools focus more on the amount of time spent in school, how to follow instructions exactly, or follow a set pattern simply "because" (something that several Chinese-Americans who lived through China's cultural revolution have warned is one of the methods Mao used in China's school system to establish control). So, Takahashi recently started started a group dedicating himself to re-teaching some American teachers on how to teach and plan. There have been MANY books that have tried pointing out the truth behind such education to Americans--but they go unnoticed and ignored. One particular book of interest is Educating Hearts and Minds: Reflections on Japanese Preschool and Elementary Education by Catherine C. Lewis (who was a Japanese exchange student in high school, and then returned to Japan with her children to research and interview the schools for many years).




Stay in school. Read books. Go the extra mile. Rule the world.
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Posted 7/31/17
Smarter?

In the sense that they are capable of making and keeping money, they are certainly smart in a sense.

However, their intellect is not necessarily greater than that of someone who is poor. You have plenty of scientists out there for example who are undoubtedly incredibly smart, yet many of these scientists - while making a good living - are far from being rich.

Then you have those who inherit their wealth, and who have little intelligence to speak of. The intelligence needed to create and maintain wealth from nothing is far greater than that needed to maintain wealth you have been handed on a silver platter after all, since modern society and capitalism essentially makes it incredibly easy for the rich to stay rich.

Of course, the rich can afford a higher education, so they are likely smarter on average than those who are poor. This average however is irrelevant, and there are tons of people who are poor (or were once poor) who are vastly better educated and more intelligent than many who are rich.

Being rich makes it easier to stay rich, and makes it easier to get a good education. Of course, among the rich, you have both the highly intelligent - those who know how to create and maintain wealth from scratch - and those who are of mediocre intelligence - those who simply inherited their wealth and only manage to grow it by simple fact of how the system is built.

---

Many people who are highly intelligent don't look towards money as the sole motivating factors in their lives, either. So you end up with a lot of people who (in my view) are of average or slightly above average intelligence focusing all of their efforts on being rich and on money being the only thing to drive them, while the truly intelligent focus on money only as a secondary pursuit. Of course, this begins to be an issue of how large your ego is rather than your intelligence after a certain point is reached.
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Posted 8/2/17
Depends on so many things.
What do you mean by being smarter? (maybe being more educated is one thing)
There is a lot you just can't get by money.
Although those having money might not seek to become smarter.
As well everyone having their own motivation which some of that motivation often could come from struggles and having a goal or dream.

But for any human there can be things that could prevent them from being smarter, either it's health reasons or other reasons.
Then again it doesn't mean you can still be smart in a few areas compared to one that lives quite differently or thinks differently.

ranting... from an animal :/ pointless
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Posted 8/2/17 , edited 8/2/17
Not anymore.

In ancient times the rich were because the excess resources they had allowed more time devoted to things that were not manual labor and general needs of survival. With time needed for information and equipment to travel along with general hardships, learning was a luxury.

...Now? There's a course for everything, The Great Courses on Audible alone can give you a firm grasp on a lot of subject. The internet lets you learn anything and we have educational TV and a society where you can travel the globe to find best where your talents are useful. It's almost inversed where some extra strife like hard work can even galvanize your learning ability while many rich families go bankrupt in a few generations. ... To say nothing of the suddenly wealthy who didn't learn self management before hand.

Viva technology.

That being said you now also have one other extenuating circumstance. Individual desire. ...Can't help people who don't want to be helped but there is far less in the way of people wanting to learn.
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Posted 8/2/17
It depends from case to case. Yes a smart person can indeed be rich, but they can also be some of the poorest people around because fortune isn't about being smart. It's about being a good business person and handling money properly.
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Posted 8/2/17
The two aren't really related. There are correlations, but as the saying goes correlation is not causation. I mean do you know how many ways someone can obtain ,money? Not all of them are related to how smart you are. And being smart doesn't require money. Some people are smart first and become rich later, some people are smart and are never rich. Edison and Tesla is an interesting example of this.
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