Good Grades not predictor of Economic Success

This week I'm reading The Millionaire Mind by Dr. Thomas Stanley, Ph.D. Stanley surveyed 733 "millionaires" (what he calls "Balance Sheet Affluent" or people with a net worth of > $1,000,000). I'm only a couple of chapters in so far, but a lot of what he reports was rather eye-opening. One of his key findings is that most millionaires, other than those that made their money as attorneys or physicians, weren't particularly stellar in school (either college or in high school.) According to Stanley, most millionaire don't attribute their success to having high IQ, being near the top of their classes, or to having attended a prestigous university. Although some of the linkages seem somewhat anecdotal, Stanley seems to be saying that academic success, as measured by grades and achievement tests is not a significant predictor of economic success.

Instead, the attribute their success to: choosing the right vocation or niche, integrity (hmmm), tenacity and leadership ability.

As I've read through this material, I've pondered some of the things I've read in Kiyosaki's books, especially Rich Kid, Smart Kid, as well as Oliver van de Mille's A Thomas Jefferson Education and Gatto's Dumbing us Down. All four of these authors reach the conclusion that our public and post-secondary education system is geared to produce factory workers or self-employed specialists, but that the system does not produce leaders or provide a solid education in financial literacy.

As an education reform activist, I'm beginning to wonder if the attempts to reform the system are falling victim to the same myths that brought the system to its current pass. It appears that analytical intelligence just isn't what its cracked up to be.

Kinda makes me feel like I got cheated...