Charles Murray wrote an excellent book title "Real Education" where he explores such issues rather closely and in particular what can be done to improve education systems in light of this information. I found it well written and meticulously researched, I very much recommend it to fellow LWers.
In relation to his book he also did this talk which is a ok overview off his key points.
Post by fellow LW reader Razib Khan, who many here probably know from the gnxp site or perhaps from his debate with Eliezer.