The reason why kids from rich families do well isn’t that mom and dad buy their way through life. The reason, rather, is that rich families have genes that cause financial success, and pass these genes on to their kids. (Casual consumers of this literature often get confused by the fact that the effect of IQ is far too small to explain the intergenerational income correlation. The key thing to remember is that there is a lot more to genetics and success than IQ)....Stage 1 was defensive: “Sure, life’s not fair. The children of the rich do better. But the unfairness is pretty small, and almost vanishes after two generations.” Stage 3, in contrast, is offensive: “Life is fair. The children of the rich do better because talent breeds talent, and under capitalism, the cream rises to the top.”
I'm not at all convinced that social networks aren't more important than almost anything else -- if you went to Harvard, you got to know a lot of people who are going to end up on top of leading businesses or government agencies, and thus you will more readily get a job from them. Still, heritability of intelligence isn't the whole story: whole sets of virtues seem to be heritable as well. You still have to do the work of training them and inculcating them in yourself to bring them from potential to actual, but the potential is there for some when it really doesn't seem to be for others.
What, if anything, should be done about that?



