What Trait Affects Income the Most? Hierarchical Rank.

“Neoclassical economists will have none of this. The idea that hierarchical rank most strongly affects income, I’ve been told, is ‘foolish and absurd’. Why? Because it explicitly contradicts neoclassical scripture. Income, scripture says, must stem from productivity. So behind hierarchical rank, there must lurk some unmeasured skill. Silly me — I’m naive enough to take my results at face value, just as Galileo did when interpreting the phases of Venus.”