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> lots of well off people are stupid

Sure, but being well-off can also cause mental distractions and suboptimal motivations.

Having resources, well-off parents can pay for help in addressing those problems, but they have to first recognize the problems, which is something they might be resistant to.

In the extreme form of this (in terms of wealth, learning problems, denial thereof, and poor academic performance), you get very wealthy people paying/bribing for elite credentials and access for their children.



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