Originally Posted by Dude
Originally Posted by Bostonian
One-sixth of income variance means that the correlation of IQ and income is about 0.4, since 0.4^2 = 0.16 which is about 1/6.
A 0.4 correlation is not negligible.

It doesn't equal 1, either.

Also, see correlation fallacy.

Finally, this: Psychometric intelligence appears as only one of a great many factors that influence social outcomes.

Why are we concerned about social/income outcomes here?

I can raise my income by 100% by moving to NYC or DC while simultaneously degrading my quality of life by 50%.