Are Rich People Smarter

March 15, 2012 by staff 

Are Rich People Smarter, Of course, that isn’t always true. There are the Paris Hilton’s of the world who live extravagantly on the riches amassed by their smarter, harder-working ancestors. And there are those who simply luck into wealth or collect it through nefarious means.

But, generally, the reason the guy in the “rich” part of town has a newer car than you do or a bigger house isn’t because there’s some cabal of greedy, oppressive troglodytes working to keep your wages down but rather because that guy is probably smarter than you. Works harder than you. And, perhaps most importantly, made better decisions in his life than you did.

To put it bluntly, for every Paris Hilton in the world there is a Bill Gates and a Steve Jobs who rose to the top because of their brains, hard work and ability to innovate.

This will anger a lot of the class warfare people who are likely union supporters and subscribe to John Edwards’ “two Americas” theory, but those people are mostly angry because nobody wants to believe that their lack of fulfillment with their lives is their own fault. It’s always easier to blame some invisible, anonymous conspiracy.

Take, as a case-in-point, an anecdotal story from Robert Frank about his recent dinner with a billionaire:

Last week I had dinner with a billionaire in California. During the two hours I was at his house, he took six cellphone calls, sent 18 emails, and thought up two new business ideas. (The other guests included a venture capitalist and tech engineer.) At the end of dinner he took his last sip of wine and said, “It’s so nice to be able to have a relaxing dinner at home.” I laughed. He didn’t get the joke.

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