Really? A link between your inventions and your parents
Here’s the latest fact.
Rich households produce children that produce more inventions and patents.
In other words, the kids of higher-earning parents have far greater likelihood — upwards of 1000% higher chance — of becoming inventors.
These are the findings of the latest economic research.
Let’s unpack this.
We know you can find extraordinary talent anywhere.
We also know that children growing up in poor households have indistinguishable levels of human potential to those growing up in privileged circumstances.
What role, then, does parents’ income play here?
High parents’ income might facilitate the transformation of raw human potential into actual achievement in a number of ways.
But it’s also possible that income is just a proxy for some other hidden factor that’s at play here.
For example, higher-earning parents, who tend to hold highly powerful and impactful professional roles, provide their kids with the role models children mimic as they form their life aspirations.
No doubt, there could be other explanations as to how parents’ income levels shape their kids future.
Whatever it is, parents’ income level creates a sticky path dependence that affects the turning of raw potential into achievement.
And, as you might guess, this effect compounds over time as a result of recursive feedback loops. In other words, success breeds success.
Why are these findings so important?
It’s because they show that an enormous portion of the available human potential around the world remains underutilized or, worse, entirely unutilized.
This huge loss undermines society’s global throughput of inventions.
This loss also means our society is not advancing as well and as fast as it could towards solving critical problems and improving people lives.
It’s a huge loss. No doubt.
The takeaways?
We need to discover extraordinary talent wherever it is
We need to harness the massive scale and unprecedented unit of economics of digital innovation to on-board people anywhere onto pathways to learning, skilling, work, leadership, and entrepreneurship
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