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Originally Posted by sapiens
Well, I wouldn't draw that conclusion either. SES certainly predicts income better than IQ. Looking back at my posts, I should have been more specific: IQ (controlled for SES OF PARENTS) predicts income better than SES of PARENTS (controlled for IQ).
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I understood that to be what you meant. And my bet still stands.
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Within family studies of IQ and SES support the primacy of IQ over parental SES in determining SES. Waller (I don't remeber the year) found that biological children above the average IQ of their family tend to go up in SES while those below the family average tend to go down in SES.
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You just changed the result. We're not talking about improvement over ones parents' SES - we're talking some degree of parity with upper class. IQ is very rarely going to take someone from the poorest family to significant wealth - though it likely would result in an some degree of increase in SES.
Which is, again, why SES (of the parents) is the primary factor in future wealth.