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Success and Luck: Good Fortune and the Myth of Meritocracy - Hardcover

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  • Connection between success and luck is written in a clear, engaging and personable style
  • Well reasoned, coherent, and compelling
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AuthorRobert H. Frank
PublisherPrinceton University Press
Publication Date42479
Book DescriptionHow important is luck in economic success? No question more 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―more 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 more accurate understanding of the role of chance in life could lead to better, richer, and fairer economies and societies.
Editorial ReviewThe reminder about the important role of luck is welcome.--Enlightened Economist."Frank is not just arguing that luck plays an important role in the lives of successful people such as Al Pacino. If that were all he was doing, his book would be engaging but trivial. But it is much more interesting than that."--Tyler Cowen, Marginal Revolution
About the AuthorRobert Harris Frank (born January 2, 1945) is the Henrietta Johnson Louis Professor of Management and a Professor of Economics at the Samuel Curtis Johnson Graduate School of Management at Cornell University. He contributes to the "Economic View" column, which appears every fifth Sunday in The New York Times. Frank's 2011 book is on wealth inequality in the United States.
Number of Pages208

Success and Luck: Good Fortune and the Myth of Meritocracy - Hardcover

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