A revolution in genomics is creeping into economics. It allows us to say something we might have suspected, but could never confirm: money trumps genes. Using one new, genome-based measure, economists found genetic endowments are distributed almost equally among children in low-income and high-income families. Success is not. The least-gifted children of high-income parents graduate from college at higher rates than the most-gifted children of low-income parents.
Andrew Van Dam