Do we try to figure out the answers to two questions: If we are smart then why we are not rich? And if we are rich and wealthy than why we are not intelligent?
Well, a group of economists has got something to say in this context. It means that some genetic traits are associated with our entrepreneurial skills. However, there was never supporting evidence to prove this hypothesis. But a research paper by Daniel Barth, Kevin Thom, and Nicholas Papageorge has something to reveal in this regard. They attempted to separate out nature and to nurture of entrepreneurial skills that pass down the generation.
Specifically, they concentrated on a gene contributing towards the affinity to attain education. For their studies, these three economists retrieved the data from earlier studies directed towards the establishment of a relationship between genes and education. This data was used to construct a weighted average of the genetic markers present within the human body. The weighted average gives the required educational attainment score. EA denotes the educational attainment score. If you score a higher EA score, you are more pre-disposed towards educating yourself. Besides this gene and education relationship data, the economists too had sample data of around five thousand and seven hundred American residents. This data is inclusive of the income, education and wealth of those American residents.
The researchers analyzing the data measured the measured the co-relativity of the EA scores with the concerned person’s wealth at their retirement age. This wealth was exclusive of income and educational spending. The results estimated that about one-third increase in the standard deviation corresponds to about fourteen percent of the greater wealth. The research infers that if you want to be smart, then you need to pay for being smart.