R Hansen says: >You see Joe, when I look at the sky I see blue and when someone argues with me that the sky is green...[more silly non relevant drivle omitted.]
Yadda yadda yadda - you've been caught with your pants down! Not the first time. You do have trouble with these rate of change arguments I see.
R Hansen: >On average, smarter people do better financially. So what exactly am I missing here?
Well, for starters, you might want to look at correlation of IQ to income, and then IQ to wealth. Not the same at all. That would clue a smarter person into the fact that the relationship is not simple. Then you might look for evidence that the income-achievement correlation Reardon investigated tracks, strength-wise, a similar income-IQ correlation. You might look for that a long long long time.
If I hypothesize water in the pond is rising because its raining, that's cool. But if the rain holds steady but the rate of the rise increases, then I have to figure the difference is coming from another source (like the neighbors runoff.) I know, I know -- these rate arguments are tough going.