Topic: Study says being rich is determined by chance rather than intelligence or talent - page 27. (Read 3009 times)
March 06, 2018, 08:51:03 AM
I had time to think about the lives of people who can be successful around me, in terms of education when it is not too high and the mindset is also ordinary, but why they can be successful? I have the conclusion that success is not just from a person's genius but from a fortune that has been destined to be successful and perhaps their courage is also a major factor for continuing to try when it fails, they are not unyielding.
March 06, 2018, 02:13:56 AM
On my own point of view it is always on the matter of every persons choice and his/her decision if he settles or not. Getting what you want to achieve in life is done by striving to get there and don't back down and mostly don't keep to your mind that the other person must decide who you to be. And, if chance or opportunity doesn't knock you can build a door.
March 06, 2018, 01:38:52 AM
Being rich is according to fate and predestination
It is also depend on your works, there are a lot of people who don't believe in deities and gods but still become rich and famous. There are also people that are not good in academics but in the end you can see them at the top. You are the one responsible on what will happen to your life. Live it well.
March 06, 2018, 12:27:53 AM
In my opinion, I don't really agree being rich is determined by chance rather than intelligence or talent, take Cristiano Ronaldo who is one of the best footballer in the world as example, he is one of the richest football player in the world due to his talented skills in the game.
Bill gates does have great intelligence to be able to create Microsoft and he also became the world richest man because of his own creation.
But without Alex Ferguson giving Cristiano Ronaldo a chance to be included in the first team of Manchester United in the past, Cristiano Ronaldo might not be able to gain his fame and popularity in such a short period of time so chance is also a very important aspect, and I would say being rich is actually determined by chance, intelligence and talent.
Bill gates does have great intelligence to be able to create Microsoft and he also became the world richest man because of his own creation.
But without Alex Ferguson giving Cristiano Ronaldo a chance to be included in the first team of Manchester United in the past, Cristiano Ronaldo might not be able to gain his fame and popularity in such a short period of time so chance is also a very important aspect, and I would say being rich is actually determined by chance, intelligence and talent.
I absolutely agree with your own opinion Sir. Being rich not determine by chance rather than intelligence or talent. A good example Mr Bill Gates the person who become rich using his talent. The example of the person who become rich because of the chance are those person with skill with the help of other person in giving his chance to explore his talent.
March 05, 2018, 04:41:33 PM
Quote
But there is a problem with this idea: while wealth distribution follows a power law, the distribution of human skills generally follows a normal distribution that is symmetric about an average value. For example, intelligence, as measured by IQ tests, follows this pattern. Average IQ is 100, but nobody has an IQ of 1,000 or 10,000.
The same is true of effort, as measured by hours worked. Some people work more hours than average and some work less, but nobody works a billion times more hours than anybody else.
The same is true of effort, as measured by hours worked. Some people work more hours than average and some work less, but nobody works a billion times more hours than anybody else.
These two aspects are particularly troubling about the methodology and logic of the argument. The logical argument made is that nobody should naturally have thousands of times more wealth than anyone else because nobody can have an IQ thousands of times higher than average or be thousands of times taller. First, there's no logical link there. Second, where the author faults nobody having an IQ of 10,000, it ignores the fact that an IQ can't even be 10,000, which is why nobody has achieved it. Similarly, nobody can be as tall as a skyscraper because it isn't physically possible. By using as a model the fact that these things don't happen as a guidepost for what should happen in wealth distribution naturally, it seems the author is comparing two things that can't be compared, and attributing the difference to luck.
Bill Gates isn't rich because he was the smartest man in the world, or because he was lucky. He's rich because he built a product that hundreds of millions of people found useful and paid for. The main driver of wealth isn't luck or intelligence (although either isn't going to hurt), the determining factor is market utility of what you do.
March 05, 2018, 04:22:59 PM
Yeah, I think this is true. There is so many, really many people who have great talent or extra smart but they don't have money.
If you are talented and smart according to yourself, but still haven't managed to utilize all that, you are either not as smart and talented as you think you are, or you just lack the opportunities. I personally go for the first mentioned.I strongly believe that everyone with enough capabilities and skills can get the most out of himself as long as you are willing to work hard in order to achieve your target. Nothing comes to you without doing anything.
You have to work hard to get it, and that's the main point here. Luck is such a small and relative factor, that I don't find it worthy to even have it be part of any discussion. That's my personal opinion, and I strongly believe in it.
March 05, 2018, 04:16:47 PM
I partially agree with you. It's true that luck matters a lot in your success but LUCK will only be with the wise. Successful people like Bill Gates, Steve Jobs, Mark Zuckerberg etc have talent and creativity with them. After developing a great platform, their luck supported them to be a successful person.
March 05, 2018, 04:03:33 PM
People who invested in Bitcoin in the early years have grown their wealth manifold. Would you attribute that to chance. The study misses the wood for the trees. Sure, not all people who are intelligent or work hard become wealthy. But if you look at two groups- one with average talent and the other with exceptional talent, you can easily predict which ones will succeed. There will be exceptions, but you can't attribute everything to chance.
March 05, 2018, 03:34:23 PM
I should say that it is sad, but true... Also as for me - in current world still rule strong and violent persons, those who can kill, lie and treason others...
March 05, 2018, 03:05:59 PM
Yeah, I think this is true. There is so many, really many people who have great talent or extra smart but they don't have money.
March 05, 2018, 02:59:23 PM
This is really a subject of discussion without any reservation because there are several people that are smart but not rich. While I admit that chance is a determining factor, but it has to be supported by being smart. I have not seen anybody who is rich that is not smart even if chance is going to be on his smart.
The issue is that there is no measurement of smartness and its not even on the basis of formal education. I have seen people who didn't even acquire university education employing people who do to keep their accounting records while those who didn't do well in formal education went out to become entrepreneurs to hire the bookies. It then mean that they might not be smart in formal education but smart in areas of business and the taking of risk.
In conclusion, I would agree that its a combination of the two and not just focusing on one to be the determining factor.
The issue is that there is no measurement of smartness and its not even on the basis of formal education. I have seen people who didn't even acquire university education employing people who do to keep their accounting records while those who didn't do well in formal education went out to become entrepreneurs to hire the bookies. It then mean that they might not be smart in formal education but smart in areas of business and the taking of risk.
In conclusion, I would agree that its a combination of the two and not just focusing on one to be the determining factor.
But smart by its definition as people having a quick and astute mind is not associated with formal education in any way. So being rich still comes down to either luck or inheritance. It is conceivable and believable that someone can be smart and poor, but can you actually imagine someone dumb or even plain stupid who would be truly rich through his own effort without luck or wealthy relatives involved? This sounds like an oxymoron to me, a combination which is impossible in real life.
Well, maybe people like Mike Tyson fit here, albeit he still doesn't look like a complete idiot.
March 05, 2018, 07:47:23 AM
March 05, 2018, 07:45:07 AM
Being rich is according to fate and predestination
Hmmmm..
They say that chance only knock ones you have to grab it but also you have to do something you have to work on it wisely.
Exactly and on point.I have always felt people who achieved success where mainly in the right place right time
and with right decision. March 05, 2018, 07:42:03 AM
The way I see it being rich is really a hit or miss thing. No matter how intelligent or patient you are if you don't hit the thing that will make you rich you won't be rich. For instance in the business section you won't know your product will be a trendsetter or not if you haven't tried it in the market yet. Look at how Clash of Clans became a multi-billion dollar game for SuperCell they didn't know that it will be a hit for gamers until they have hit the app market. Being rich involves a lot of doing risk as you need to prepare to lose money in order to earn big.
March 05, 2018, 07:39:23 AM
It's not about intelligence or talent, it's about obsession.
March 05, 2018, 07:35:19 AM
Yes I agree to that because sometimes luck is one reason why people become rich. Luck in terms of many ways. Being rich by intellegence or talent is also one reason why people become rich because they use their knowledge and talet but I mostly agreed of being rich by chance.
But being lucky is just sometime. So we should not based it all on how lucky we are. Many became rich because of their hardwork and itelligence. Some are working smart that is why they became rich even just for a period of time. I do not know about whose study is that. It is just clear for me thst being industrious pays really well.
March 05, 2018, 06:48:38 AM
There are lots of people born into a wealthy family or inherited money. So I could see that this percentage could be high as compared to people that actually have to work hard to become wealthy. There is also a percentage of people that just happen to invest in the right stock or buy a winning lottery ticket but I think this percentage is probably relatively low as compared to just being born wealthy.
Yes i agree with you, we must be open-minded in every time especially when it comes to money. March 05, 2018, 03:13:39 AM
Being smart is not enough to be rich and successful. Most of the time people's success depends on the people surrounding us. Talent's are exceptional specially if you have a great attitude towards others which will contribute to connections to be rich. Knowledge to earn, invest and making money will be the key to be rich rather than being so bright in the classroom and focusing your self to only one goal, try to explore everything.
March 05, 2018, 02:35:59 AM
This is really a subject of discussion without any reservation because there are several people that are smart but not rich. While I admit that chance is a determining factor, but it has to be supported by being smart. I have not seen anybody who is rich that is not smart even if chance is going to be on his smart.
The issue is that there is no measurement of smartness and its not even on the basis of formal education. I have seen people who didn't even acquire university education employing people who do to keep their accounting records while those who didn't do well in formal education went out to become entrepreneurs to hire the bookies. It then mean that they might not be smart in formal education but smart in areas of business and the taking of risk.
In conclusion, I would agree that its a combination of the two and not just focusing on one to be the determining factor.
The issue is that there is no measurement of smartness and its not even on the basis of formal education. I have seen people who didn't even acquire university education employing people who do to keep their accounting records while those who didn't do well in formal education went out to become entrepreneurs to hire the bookies. It then mean that they might not be smart in formal education but smart in areas of business and the taking of risk.
In conclusion, I would agree that its a combination of the two and not just focusing on one to be the determining factor.
March 04, 2018, 06:47:48 PM
I agree with the idea that being rich is determined in athe very big percentage by the chance, by the place you lived, the famil you had and by the events that happend in your life. But obviously I dont agree with the idea that you cant get rich if you were not born in a rich family because I think it is stupid. I think everyone can get rich if he truly wants that and works for it. Of course it doesnt matter only how intelligent you are, if you dont want to be rich. It is not enough to be intelligent so as it is not enough to have money for a business but you dont have knowledge. Again, the studies show that most rich people are born to be rich but that doesnt mean anyone cant get rich just because they were not born in a rich family.
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