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> The obvious conclusion is that household income is a predictor of both: > - inability to delay gratification, and > - higher academic achievement > This ma
by slibhb 2y ago
> The obvious conclusion is that household income is a predictor of both:
> - inability to delay gratification, and
> - higher academic achievement
> This makes sense when you consider that someone growing up in a poor household may have both:
> - less reliable/continuous/predictable access to material things, meaning they would rationally seize immediate opportunities rather than taking the risk of a larger future opportunity, and
> - less academic support
While this is all true, there's another factor that no one ever brings in: wealthy people are likely to possess attributes that lead to wealth accumulation like conscientiousness, intelligence, ability to delay gratification, etc. Those traits are quite heritable, so their children are likely to have higher income.
People are allergic to the idea that outcomes have something to do with heritable characteristics. And allergic to the idea that economic success is related to positive personality traits.
- elromulous 2y agoGood points. But you know what's even more heritable than those traits? Wealth.
- rvense 2y agoSome people attribute success to raw ability. You get good grades because you know the material, you get the job because you're the best at doing the work. There's also a component of giving others the perception that you're capable. Seeming smart, navigating the politics of a school or workplace, fitting in. A lot of this seems like it's obviously learned, and that affluent people will be ahead.
- enavari 2y agoIt's both. Higher household income means better nutrition for their children (which also maxes out your genetic disposition), better education, more secure attachment, focus on careers, etc, in addition to the points you raised.
- NoMoreNicksLeft 2y ago> wealthy people are likely to posses attributes that lead to wealth accumlation like conscientiousness, intelligence, ability to delay gratification, etc. Those traits are quite heritable, so their children are likely to have higher income. It's just as likely that proximity to these characteristics is sufficient. As heritable as those might be, inheritance of assets is protected by law. What more heritability is needed? > People are allergic to the idea that outcomes have something to do with heritable characteristics. Heritable only through learned behaviors, imitating family. Too many playboys squandering grandpa's hard-earned wealth to think otherwise. The right lessons just weren't taught for some. Positive personality traits do relate to economic success, but too few who have those have the parenting skills to transfer those to the next generation. Their genes certainly aren't doing the heavy-lifting.
- sokoloff 2y agoAssets are typically inherited long after the income generating years have been determined. You could argue that the promise of high likelihood of a future inheritance event affects choices (and I’d agree that a positive effect), but I think most people receiving inheritances of notable size are middle-aged.