Of course not, but we can only examine these matters in general terms and by looking at the population as a whole. There are always exceptions and of course, many more skills required to succeed in life than purely academic qualifications. However the link between opportunity and parental wealth is real and most prominent for the vast majority.
I just wonder how we distinguish between the two? How can we tell it's a lack of finance that contributes to poor outcomes in life rather than poor habits?
I mean you have the well known study suggesting that kids from well off families are exposed to 30 million more words than their peers from poorer families. That study found that the vocabulary of the children was practically identical (at 3 years of age) to that of their parents.
The results showed a doubling of words from parents on welfare to working class parents, and from working class parents to professional parents. Not just the number of words differed though, but the kind of words used too, with child psychologists saying a similar relationship was found (ie professional parents best, then working class, then those on welfare).
This was just in terms of conversations they were having with their children, so it wasn't something they had to buy or anything of that nature.
The flipside of course is the issue of mental bandwidth. It's been shown that peoples intellectual capacity is reduced when they're distracted by other things, including money worries.
http://www.princeton.edu/main/news/archive/S37/75/69M50/index.xml?section=topstories
"Poverty and all its related concerns require so much mental energy that the poor have less remaining brainpower to devote to other areas of life, according to
research based at Princeton University. As a result, people of limited means are more likely to make mistakes and bad decisions that may be amplified by — and perpetuate — their financial woes."
Which undoubtedly adds a layer of complexity to the matter. I'm just inclined to think that unless we try and understand the root causes, all we can ever hope to achieve are sticking plaster remedies. The lack of social mobility over the last 50 years suggests we haven't found the right answer yet.