Why do people hate on inherited wealth, but not (inherited) intelligence?
If we take a step back, we'll see that both can be attributed to the birth lottery.
I happened to watch this YouTube video "The Tyranny of Merit", discussing that our idea of "meritocracy" results in people feeling superior because of being born with high intelligence and/or wealth, both of which can be largely attributed to luck.
The main difference is that inherited wealth is more tangible, while inherited intelligence is largely intangible.
Someone who's born smart, and I mean really smart, the 98th or 99th percentile IQ Mensa types, will find it much easier in life. In school. the ability to quickly grasp concepts and having to study much less for exams. In the workplace, being very intelligent, coupled with a decent level of EQ, one will be more likely to do well. Better productivity, more innovative ideas. Some of the most lucrative jobs are filled by the most intelligent people; quant traders at Jane Street or big tech software engineers as some examples.
In many ways, being born wealthy can achieve many of the same outcomes as the above. Wealth also makes life much easier, obviously. An average student, with huge resources being poured into private tuition, may achieve the same stellar grades as an intelligent student. Someone with a moderate IQ, but with the privilege of growing up very wealthy, providing the exposure to niche skills, social capital and experiences, may also be able to clinch lucrative jobs, especially for roles that require these qualities, such as private bankers serving the wealthy.
The bottom line is that both are largely dependent on luck, whether being born in an extremely wealthy family, or being born with an extremely high IQ. And both groups would find it much easier to get through life.
For HENRYs working in certain sectors with a higher concentration of very intelligent people and/or people from very wealthy backgrounds, you'd probably have met a fair share of these demographics.
Why do you think more people abhor inherited wealth, rather than inherited intelligence?
And a follow up question, would you rather be born in the top 1% of wealth ($7MM SGD in the Singapore context), or with the top 1% of IQ?
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Thank you all for the responses. Some really interesting comments and responses.
Further thoughts based on the replies:
It seems like being born with high intellect is the "morally superior" position, as compared to being born with massive wealth.
Ironically, if given a choice, most would choose to be the one born with massive wealth.
The consensus largely agrees that even with high intellect, effort, EQ and luck are still required. If someone gifted with a high IQ, works hard, creates things of value to society, invests well and eventually amasses significant wealth. Subsequently, the 2nd generation inherits and benefits from the wealth. We are back to the same moral conundrum as the above.