"No man can become rich without himself enriching others"
Andrew Carnegie

Wednesday, September 12, 2012

How Intelligence Relates To Wealth

Lyndon B Johnson Can Shove It
Lyndon B Johnson Can Shove It (Photo credit: Eddie~S)
Does intelligence equal wealth? If the question isn't rhetorical, then the answer is “no.” Then again, it all depends on a number of factors. If you define intelligence as the ability to apply knowledge and skills, then intelligence certainly can equal wealth. Study hard, apply yourself and read. After all, having an education is the only guaranteed way to get ahead, right? Go tell that to the myriads of overeducated college graduates working at menial jobs with no advancement in sight.
Educated, but UnderemployedEducated people working in disappointing jobs isn’t the result of dire recessionary times. Rather, it’s because financial rewards are tied to what a producer has to offer. Every one of us has to accept the challenge of proving one’s worth in the marketplace. Intelligence is only a limited part of that. The marketplace is nothing more than the exchange of people’s accumulated wants and desires. Much of what consumers collectively place great value on in the marketplace has astonishingly little to do with intelligence as we understand it.
No one expects Magic Johnson to offer proof of the Riemann hypothesis anytime soon, yet his wealth is estimated to be half a billion dollars . In Johnson’s case, he developed non-academic skills that he could use to obtain a high salary. By saving that salary and investing, Johnson earned far more money through passive income than by active means.. ... Continue to read.
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