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I think it plays a role in individual success. As for an entire nation? Well, that depends on a lot of other things including what type of natural resources that nation has, it's population size, where it is, etc.
Smarter people will typically pursue jobs that require more intelligence and therefore make more money. You still have to have drive and the willingness to work hard, but you also have to be smart enough to quickly learn things as well as learn from your mistakes.
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