william the wie
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- Nov 18, 2009
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- #21
On average yes lifetime income has two inherited sources:You should be so lucky.
I was shocked to find out that college was a net negative in terms of discounted dollars
So the cost of education would have a negative impact, it looks like that's what he's saying. Can't you see that?
Genetic factors such as IQ and appearance.
Cultural factors such as connections and family wealth.
While other sources of wealth creation do exist above average educational achievement is not one of them nor would it be useful if true. Anyone and everyone can get a degree. I knew a well respected unpaid church leader who got a mail order AA in carpet cleaning and ended up nicely middleclass in his day job of specialty carpet cleaning doing work normally done by those with PhDs. I also know homeless men one with an MBA from Michigan and another a lawyer with an undergrad in engineering I met with them last night at Books a Million. Both of them work and one of them is recovering from surgery he needed to take care of before his Publix healthcare is cutoff December 31st so I brought them some bags of my variant on check mix. Neither one is wacko nor do they have major psychological problems.
The major dividing lines between the economic quick and the dead all other things being equal are:
Money-management skills such as never mistaking financial leverage for structural leverage and living within one's means. I've known many high school dropouts that got seriously rich in real estate and banking.
Force of personality is another biggie. Doing the same old same old longer than anyone else can or would works. Innovation also works.
Getting a doctorate does not conform to the observed reality of how men and women demonstrate fitness in the competition for mates and all economic activity beyond survival and sanitary needs involves mate selective activity. Corporate or academic battles are all about becoming the herd's stud no different than what happens in gorilla, dolphin, wolf or hyena societies except that the loser is rarely murdered in human societies and the mistresses tend to be better hidden. Any skill set that is not inherited parent to child is worthless in the competition. Above average education is not inherited therefore it does not aid mate selection and therefore is worthless in the competition.