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Thread: Incompetent, rich people are more likely to get ahead than smart people with no money

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    Loony Running The Asylum ZiprHead's Avatar
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    Incompetent, rich people are more likely to get ahead than smart people with no money

    https://www.marketwatch.com/story/in...hem-2019-05-21

    Jones has mulled that question while reading the many conclusions from a series of studies published last month by researchers from Stanford University and the University of Virginia in the peer-reviewed Journal of Personality and Social Psychology: Interpersonal Relations and Group Processes. “Individuals with relatively high social class are more overconfident,” they concluded. And, they said, others buy into it. The result? “Advantages beget advantages.”

    It’s difficult not to be impressed by a colleague with, say, an Ivy League education, tailor-made suit and a spring in their step. “Social class shapes the beliefs that people hold about their abilities and that, in turn, has important implications for how status hierarchies perpetuate,” the lead authors, Peter Belmi, assistant professor of leadership and organizational behavior at the University of Virginia, and Margaret A. Neale, a professor of management at Stanford University, wrote.
    ITMFA

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    Contributor barbos's Avatar
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    I wonder if they studied this effect dependence on different fields. I bet effect is more pronounced in leadership and organizational behavior and management. That's not to say that this Stanford professor is "rich". However I know one professor from Stanford who is ridiculously "rich".

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    Veteran Member PyramidHead's Avatar
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    We already had a thread on this article not too long ago, I think.

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    Does this result surprise anyone?

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    Loony Running The Asylum ZiprHead's Avatar
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    Quote Originally Posted by Jolly_Penguin View Post
    Does this result surprise anyone?
    It would surprise bootstrap republicans but they probably wouldn't understand the big words.
    ITMFA

    When conservatives realize they cannot win democratically, they will not abandon conservatism. They will abandon democracy.

    You submit to tyranny when you renounce truth. - Timothy Snyder

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    Contributor barbos's Avatar
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    Quote Originally Posted by ZiprHead View Post
    Quote Originally Posted by Jolly_Penguin View Post
    Does this result surprise anyone?
    It would surprise bootstrap republicans but they probably wouldn't understand the big words.
    But conclusions are true for academia (which is left leaning) as well. You are more likely to get ahead if you are bullshitter from top university.

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    Contributor Trausti's Avatar
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    If you’re more sociable, you’ll probably have more success regardless of how smart you are. An example would be the two Steves of Apple. Woz had much more technical smarts than Jobs. But without Jobs’s social skills, Woz’s creation would have collected dust in a garage.

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    Quote Originally Posted by Trausti View Post
    If you’re more sociable, you’ll probably have more success regardless of how smart you are. An example would be the two Steves of Apple. Woz had much more technical smarts than Jobs. But without Jobs’s social skills, Woz’s creation would have collected dust in a garage.
    Yup. Charisma goes a long way towards success even without smarts. For an extreme example, consider Individual 1.

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    Contributor barbos's Avatar
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    Quote Originally Posted by Loren Pechtel View Post
    Quote Originally Posted by Trausti View Post
    If you’re more sociable, you’ll probably have more success regardless of how smart you are. An example would be the two Steves of Apple. Woz had much more technical smarts than Jobs. But without Jobs’s social skills, Woz’s creation would have collected dust in a garage.
    Yup. Charisma goes a long way towards success even without smarts. For an extreme example, consider Individual 1.
    But Individual 1 has no Charisma.

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    Quote Originally Posted by Trausti View Post
    If you’re more sociable, you’ll probably have more success regardless of how smart you are. An example would be the two Steves of Apple. Woz had much more technical smarts than Jobs. But without Jobs’s social skills, Woz’s creation would have collected dust in a garage.
    Agree.

    Also risk tolerance is extremely important and always overlooked. Usually more intelligent people have less risk tolerance than people who are not smart. Yet the ability to tolerate risk is a key factor to making oneself wealthy.

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