Omni Brain : You don't have to be smart to be rich (or go bankrupt afterwards)

The Homunculus

The Omnibrain is a psychology graduate student at an online university. He hopes that the three weeks and $29.95 that he is spending on his Ph.D. will get him a job at a Tier 1 research university. Do online universities have postdocs? Ok...just kidding, The Omnibrain is a real graduate student at a real school somewhere in the continental United States - or maybe Europe.

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You don't have to be smart to be rich (or go bankrupt afterwards)

Category: Psychology
Posted on: April 25, 2007 10:43 AM, by The Omnibrain

Overall people with higher IQ's tend to earn a bit more income (1 IQ pt. = $202-$616 more per year) but when you factor in total wealth (I believe that how much bling you have was the measure) and how likely people were to have financial difficulties the correlations fell apart. The smart and the dumb were both equally as inept at managing their own finances. I can think of countless examples of both sides of the coin. For the idiots we have: MC Hammer, Vanilla ICE, Mike Tyson and many other entertainers (ok ok ... I know entertainers aren't necessarily idiots - but they're the easiest to make fun of here). For the smart ones we have Mozart, Mark Twain, and

Dennis Kozlowski, former CEO of Tyco, [who] received widespread attention for his decadent lifestyle, which he funded in part from the coffers of the company he ran. For his wife's 40th birthday, Kozlowski staged an extravagant $2 million party on the Italian island of Sardinia. The party featured a ice-sculpture of the Statue of David that pissed vodka. He charged the company half the bill for this orgy.

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Comments

oh how funny, we had the exact same statue at our last grad student party...

Posted by: kate | April 25, 2007 11:02 AM

statue?

Posted by: Steve Higgins | April 25, 2007 11:41 AM

I hear the Kanwisher lab is gonna have one of those at VSS. AND a monkey.

Posted by: Brian | April 25, 2007 11:46 AM

Is the monkey by any chance, you?

Posted by: Steve Higgins | April 25, 2007 12:04 PM

I don't think Vanilla Ice had financial problems. I seem to remember a "Where are they now..." (before his reality TV fame) and he seemed to have a big house and be racing Moto X. I think he still had millions in the bank, like 18 if I remember right.

Posted by: Mitch Harden | April 25, 2007 12:44 PM

Ms. Hilton uses reading glasses?

Posted by: Kurt | April 25, 2007 3:05 PM

Yes, I am the monkey.

Posted by: Brian | April 25, 2007 6:17 PM

I thought you were the walrus, coo coo ca choo.

The best example are the drug kingpins with three houses, lots of jewelry and the newest/fastest car. But who doesn't pay taxes.

Posted by: ClinkShrink | April 25, 2007 10:43 PM