natorum_9

Tests like the SAT correlate strongly with results from IQ tests.

That said, your point about cultural bias is well taken. Rather than scrapping standardized testing though, we should instead focus on creating a society where group identity doesn't matter as much as individual ability.

True, but anything you do to unlock wealth from the super rich - who tend to hoard it - and transfer it to less wealthier folks who are much more likely to spend it (they can't afford not to) will improve the health of the broader economy (more money flowing around). Even if companies have high profit margins, they will use that profit to expand production and hire more people (a good thing) or buy more goods (leading to more employment elsewhere).

I think results like this are important to consider as elite Universities drop their standardized testing requirements in the name of equality and fairness. Standardized testing is really one of the fairest ways of giving all individuals a fair shake.

I've always felt that one of the best ways to decrease extreme income inequality while still working within a market framework is to just create companies that provide more services and products to the rich. Extract wealth from them in exchange for goods, like a trip to space for a cool $300k. This is much more favorable a path than socialism.

"Self-made"

O Rly