I also believe there's a psychosocial component to this.

Talk to enough conservatives and you will learn that they may be well aware that there are limitations to their capabilities. They are probably willing to concede that they may be of only ordinary intelligence or physical capability. They know they (like most people) are not natural athletes, scientists, artists, warriors, humanitarians, intellects or even leaders. However, most of them are convinced that they are natural businessmen. It's because they have "common sense", a "work ethic", "self-reliance", a "sense of responsibility", or a "healthy ambition", or some other vague in-born, inherited personality trait that can be neither objectively defined or demonstrated. They also feel that many other people (those not in their social group or in-circle) lack this ability, which explains not only their low station in life, but why they deserve it.

But it can be objectively determined whether or not one is successful at business. Those who are, use this to justify their contempt for those who are not members of their in-group. Those who are not, come to believe that it is only the treachery and theft of those OTHER people, (the takers, looters, freeloaders, and their Liberal allies) that denies them the business success they are culturally or genetically entitled to.

To put it bluntly, the narrative is "I am prosperous because I am better than they are. And if I'm not its because those who are inferior to me are taking my rightful share."

If this concept of "better" or "inferior" is explained genetically, we call it racism. If it is explained as simply laziness or the inability or unwillingness to adopt the necessary "common sense", "work ethic", "self-reliance", "sense of responsibility", or "healthy ambition", then its just plain old fascism. In a way, this is worse. The racist, at least, believes the inferior race can't help being inferior. The fascist feels morally and intellectually justified in despising his perceived opponent.

There are many human attributes which are necessary conditions for success, not the least of which is pure dumb luck. However. there is no characteristic which is a sufficient condition for that success. It is the failure to be aware of this that leads to the lack of empathy, the contempt for humanity and the smug arrogance we find so often underlies the Randian philosophy.