The Nobel Prize-winning economist reveals why many people are smart but not rich

Economist James Heckman, who won the Nobel Prize in 2000, conducted a survey in which he consulted people about the role of innate intelligence for success in money. The difference in income of each person is based on IQ.

Most of the responses he received were 25%. Particularly, there are some who believe that intelligence contributes to 50% of financial success. But Heckman’s research shows something completely different. It is that innate intelligence accounts for only 2% of a child’s future success. So what is the other 98%? It turns out that financial success is closely related to the qualities of dedicated perseverance: Self-discipline, perseverance and caution.

This conclusion should not come as a surprise to those familiar with couples studies: People who are wary and trustworthy are more likely to work more effectively, advance faster, earn earn more money and feel more satisfied with my job. In other words, devotion is the factor that predicts job satisfaction, income and ability to advance in the future.

According to researchers, “devoted” spouses are more willing to do housework, exhibit more pragmatic behaviors that their spouse wants to follow, and create a happier family life, all both of these factors help your partner to focus more on his work.

According to a researcher, “this result shows that the quality of each partner’s personality has a great influence on the important aspects of his or her career.” In other words, a partner will be a good role model, and help you become a better person.

Of course one cannot deny the sizable role of luck in one’s success. The researchers also asserted, “The greatest success never comes with the greatest talent, and vice versa. The simulation in our research shows that if those two things go together, it is only lucky only “.

But luck is something you can’t control. And you can only control a part of intelligence. While you can be sure of learning more, pure intelligence – the ability to think logically and solve problems regardless of your knowledge – is something that can be trained (to to some extent) but tend to be fixed.

One thing that you can control is your commitment. It is your hard work, your perseverance and perseverance.

Everyone has a definition of their own success. But if you define success on traditional metrics like success in work or property or popularity, your effort is indispensable.

Maybe you are not smarter than a person, do not have outstanding talent, do not have many relationships, development environment or favorable educational background. But you can replace it all with effort – because over time, effort will bring skill and experience. You can always be more persistent than others and more self-conscious than them. Those are things you can control. And that, according to the scientists, are the factors that have the biggest impact on your success.