Sons of fathers with high incomes tend to end up with higher than average incomes themselves, but new research shows that it’s not just dad’s money that helps a son on his way. According to a study recently published in the Journal of Political Economy, human capital endowments passed from father to son—perhaps in the form of smarts, advice, work ethic, or some other intangible—could be more important to a son’s success than the size of dad’s paycheck.
