Study: Incompetent Rich People Are More Likely To Succeed Than The Able And Poor

Higher social status confers the appearance of competence on the wealthy but incompetent.

Higher social position and wealth is correlated to an increased sense of confidence, entitlement, and the appearance of competence, according to Market Watch.

The entitlement that comes from wealth and status confer a glow of confidence, and competence. The appearance of success enables the wealthy to succeed farther than their ability should merit.

Confidence and ambition in the wealthy are learned at an early age from interactions with parents. Wealthy parents imbue their children with the belief that they're destined for greatness, even when their natural ability falls short.

Jones Young, an assistant professor at Franklin & Marshall College in Lancaster, Pa., a researcher of class inequality has pondered, “How do managers or those in positions of power acknowledge these differences and create an environment where all employees have an opportunity to showcase their talents and perspectives?”

The answer is not an easy one.

Wealthy people have learned the interpersonal and soft skills that will help them get ahead in life.

Studies show that people of low income backgrounds earn on average 17% less than those from privileged backgrounds, even when compared to individuals in the same occupations. Only 20% to 30% of children whose parents are in the bottom 10% of earners go to college.

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