> - inability to delay gratification, and
> - higher academic achievement
> This makes sense when you consider that someone growing up in a poor household may have both:
> - less reliable/continuous/predictable access to material things, meaning they would rationally seize immediate opportunities rather than taking the risk of a larger future opportunity, and
> - less academic support
While this is all true, there's another factor that no one ever brings in: wealthy people are likely to possess attributes that lead to wealth accumulation like conscientiousness, intelligence, ability to delay gratification, etc. Those traits are quite heritable, so their children are likely to have higher income.
People are allergic to the idea that outcomes have something to do with heritable characteristics. And allergic to the idea that economic success is related to positive personality traits.