Work, Smarts, and Wealth

One of the biggest problems with the arguments regarding the inequality of rewards is the failure to acknowledge the role played by both intelligence and hard work in the generation of income and the accumulation of wealth. What does the data tell us? What are the implications? Why should we care? We'll provide the answers.

In earlier eras, people in the bottom half of the socio-economic pyramid typically worked from dawn to dusk, while the top 1 percent was rightly referred to as "the idle rich." Opportuni.....