<quote> Our main findings can be summarized as follows. First, parental income matters for the probability of becoming an inventor, and it does so even after controlling for other background Our main findings can be summarized as follows. First, parental income matters for the probability of becoming an inventor, and it does so even after controlling for other background variables and for IQ. Second, the estimated impact of parental income is greatly diminished once parental socioeconomic status and education, and the indi- vidual’s IQ are controlled for, dropping by 2/3rds. Third, IQ has both a direct effect on the probability of inventing which is almost five times as large as that of having a high-income father, and an indirect effect through education. Finally, the impact of IQ is larger and more convex for inventors than for medical doctors or lawyers variables and for IQ. Second, the estimated impact of parental income is greatly diminished once parental socioeconomic status and education, and the indi- vidual’s IQ are controlled for, dropping by 2/3rds. Third, IQ has both a direct effect on the probability of inventing which is almost five times as large as that of having a high-income father, and an indirect effect through education. Finally, the impact of IQ is larger and more convex for inventors than for medical doctors or lawyers </quote>