Pdf Success and Luck: Good Fortune and the Myth of Meritocracy – Schematicwiringdiagram.co

From New York Times bestselling author and economics columnist Robert Frank, a compelling book that explains why the rich underestimate the importance of luck in their success, why that hurts everyone, and what we can do about it How important is luck in economic success No question reliably divides conservatives from liberals As conservatives correctly observe, people who amass great fortunes are almost always talented and hardworking But liberals are also correct to note that countless others have those same qualities yet never earn much In recent years, social scientists have discovered that chance plays a much larger role in important life outcomes than most people imagine In Success and Luck, bestselling author and New York Times economics columnist Robert Frank explores the surprising implications of those findings to show why the rich underestimate the importance of luck in success and why that hurts everyone, even the wealthy Frank describes how, in a world increasingly dominated by winner take all markets, chance opportunities and trivial initial advantages often translate into much larger ones and enormous income differences over time how false beliefs about luck persist, despite compelling evidence against them and how myths about personal success and luck shape individual and political choices in harmful ways But, Frank argues, we could decrease the inequality driven by sheer luck by adopting simple, unintrusive policies that would free up trillions of dollars each year than enough to fix our crumbling infrastructure, expand healthcare coverage, fight global warming, and reduce poverty, all without requiring painful sacrifices from anyone If this sounds implausible, you ll be surprised to discover that the solution requires only a few, noncontroversial steps Compellingly readable, Success and Luck shows how a accurate understanding of the role of chance in life could lead to better, richer, and fairer economies and societies

11 thoughts on “Success and Luck: Good Fortune and the Myth of Meritocracy

  1. Hande Z Hande Z says:

    Frank tells us that luck has a greater role to play in our lives than we give it credit Talented and good men doused with bad luck appear as failures But conversely, as E B White says, Luck is not something to mentioned in the presence of self made men.Giving example after example, Frank shows why luck has a crucial role to play in our failures and successes Al Pacino was an unknown actor who might not have made it had the director not insisted on his lack of fame over that of Michael Caan reduced to a supporting role Bill Gates has a string of good luck all documented in Frank s account.Frank goes on to explain why it is that we do not give luck its due We are inclined to the slightest flattery that we overlook the role of luck In choices we make and judgments we pass about others, we rarely evaluate objective evidence Thus increasing the incidents of luck.We should give weight to events of uncertainty In that way, we learn to have a clearer insight into our own fortunes or misfortunes and temper our ego with humility The shortcoming of this book is that it may come a little short on scientific proof of his thesis although intuitively we tend to agree with him.

  2. Anthony Anthony says:

    Great book conveying a compelling message with public policy considerations Luck always plays a part in whatever we do, in successes and failures This is the reality he is portraying and supporting through a very successful selection of examples, personal stories and quotes from other authors Yet, when focusing on our efforts to succeed, we would rather put aside the implications of the existence of luck, as this can make us passive.

  3. ismaelrl ismaelrl says:

    I loved the book Robert H Frank argues that luck plays a major role in life trajectories and it is key in determining who is successful The book is very well written and easy to read Recommended

  4. Robert Morris Robert Morris says:

    Those who have read one or of Robert H Frank s previously published books notably The Darwin Economy Liberty, Competition, and the Common Good 2011 and The Economic Naturalist In Search of Explanations for Everyday Enigmas 2008 already know that he has a brilliant mind, a playful wit, and an allergy to bull He also believes that sacred cows make the best burgers.What we have in his latest book are his thoughts and feelings about recent research on the influence of external chance events and environmental factors on individual life outcomes influences that occur independently of people s virtues or flaws Much of the material in the book is drawn from his personal experiences However, he also cites other sources as he explores several subjects Here are five among those of greatest interest to me o Successful people tend understate luck s role and overstate merit s role.o Unsuccessful people tend to blame bad luck rather than their own inadequacies.o Making a few relatively simple policy changes could produce dramatic improvements for all of us o Self interest is clearly an important motive, perhaps even the most important one o Self control deficits are obstacles to success and can cause serious problems in human relationships.Early in the book, Frank quotes several passages from Michael Lewis commencement address at Princeton during which he suggests that those who are born into a privileged life are the lucky few They have been faced with an extra cookie All of you will be faced with many of them In time you will find it easy to assume that you deserve the extra cookie For all I know, you may But you ll be happier, and the world will be better off, if you at least pretend that you don t I agree with Frank that what people deem reasonable is often determined, at least in part, by what their conversation partners believe The upshot is that although popular beliefs may remain at odds with reality for c considerable periods of time, the consensus can flip with surprising speed once good i.e sound, convincing arguments begin to find their footing And those arguments can spread through one conversation at a time Pass it on.

  5. Professor Bernard Barker Professor Bernard Barker says:

    Punctual and interesting.

  6. Gulliver1 Gulliver1 says:

    Excellent book It s not hard to see why many self made individuals will find the message of the book hard to stomach but that doesn t mean that it isn t true.

  7. T. A. Partington T. A. Partington says:

    I bought this book thinking it was a scientific study of success and the contribution of chance, which I feel is chronically under estimated wrong It turns out to be a piece of liberal in the American sense political polemic with bits of junk science added to provide some justification for the ludicrous conclusions To cut a lengthy series of feeble arguments down he seems to be saying that because rich and successful people do not acknowledge the fact that they owe a lot to luck I agree they pay themselves too much and are taxed too little hence inequality, stagnating middle incomes etc The answer is for everyone to cease having aspiration to have bigger houses and better cars etc And to spend all the money thus saved via government on new infra structure and so on A progressive consumption tax paid as a percentage of the difference between income and savings would cause this reduction in aspirations without , apparently, causing an economic collapse The book might be of interest to students doing a degree on the history of bad ideas, or to Jeremy Cobyn.

  8. biorganicenergy.co Customer biorganicenergy.co Customer says:

    this is the worst book ever

  9. Ken Power Ken Power says:

    The theme of this book is Luck is a factor in life therefore Statism The author unloads a dumptruck full of dubious empirical psychological studies on the reader to prove the mind is a hall of mirrors We are filled with illusions that lead us to overestimate the impact of skill and talent on success The author considers this bad because such a mindset will get in the way of the statist taxation measures he regards as vital to the well being of society The author holds that failure to recognize that luck is often a primary factor in success will lead the wealthy to such delusions as my money belongs to me because I earned it and then the wealthy will lobby for lower taxes etc Mr Frank holds a special contempt for spending on celebrations of weddings, birthdays etc which he regards as a dreadful waste of resources He has better ideas and where that money should go bridges, the education system and such If you resent success, and would like some balm for that wound in your soul, this is the book for you.

  10. Karina Karina says:

    Livro trata de estorias de pessoas de sucesso que talvez tenhan tido uma pitada de sorte em seu caminho, mesmo que nao digam isto Bom para refletir Ha tambem conteudo alem das estorias Muito bom, vale a pena Ah, ele indica outras obras no decorrer do texto tambem muito interessantes

  11. Enrique R. Enrique R. says:

    Expone claramente la influencia del azar, unida a otros elementos como el esfuerzo personal es en muchas circunstancias una explicaci n mas solida del xito que el trabajo duro nicamente, y por tanto que hacer como sociedad para maximizar las posibilidades para que este entorno favorable pueda prosperar