I did not expect to read a discussion of how to build up advantages in a competitive world in The Psychology of Money. But here it is, and it offers a very interesting perspective.
Before the world became connected, a worker with average intelligence could be the best one in town because of the lack of competition. As the world becomes more and more connected, the talent pools are expanded globally across more and more fields. For individuals, the number of competitors is growing rapidly, so intellegence alone is no longer a reliable advantage.
The author argues that, other than intelligence, having flexibility is equally important: wait for good opportunities in one’s career and investments, take time to learn new skills when necessary, and have leeway to find passion and unique niche.
How to achieve the flexibility? Save money!
The ability to do those things when most others can’t is one of the few things that will set you apart in a world where intelligence is no longer a sustainable advantage.
I would have completely disagreed with the author if I had read this paragraph before 2022, when I couldn’t imagine a world in which human intelligence is not a sustainable advantage. Now in 2026, the LLM has showed us the intelligence indeed becomes an unsustainable advantage for the average individual.
This idea is also echoed from an even higher level in the book How an Economy Grows and Why It Crashes, where the author argues that savings are what ultimately grow the economy.