Posted on 03/30/2017 7:44:43 AM PDT by reaganaut1
We hear claims that the U.S. needs to make transformative changes so our society will be better (in the eyes of intellectuals, anyway) almost every day. One such claim comes in a new book by an economics professor who argues that lucky people are taking too much of “our” wealth and that’s causing bad consequences for America.
Naturally, government can fix that supposed problem.
The author, Robert Frank is an economist who has spent decades thinking about the role of luck in our society. More than twenty years ago, he co-authored the book The Winner-Take-All Society, arguing that we have moved into an economy characterized by “winner-take-all” markets in which one person or company rakes in almost all the rewards of success, with little left for the rest of the field.
In his latest book, Success and Luck: Good Fortune and the Myth of Meritocracy, Frank returns to that theme and explains why he finds luck so problematic.
“In recent years,” he writes, “social scientists have discovered that chance events play a much larger role in important life outcomes than most people once imagined.” Despite the American belief in meritocracy, Frank says that success or failure “often hinge decisively on events completely beyond any individual’s control.”
(Excerpt) Read more at forbes.com ...
Liberals just don’t understand that working harder, being innovative, and getting up of your ass will create “good luck”. They’re insane.
Just checked my copy of the Constitution.
Can’t find where the federal government authorized to act as a referee.
Professor Frank is wondering about how to get wealthy? He should read Dr. Stanley’s books. Benjamin Franklin also covered it fairly well:
http://www.swarthmore.edu/SocSci/bdorsey1/41docs/52-fra.html
Reminds me of that Kurt Vonnegut story in which tall basketball players had to carry chains to make the game “fair.”
What the heck was the name of that tale...?
“The harder I work, the luckier I get.” - Samuel Goldwyn
Harrison Bergeron
Harrison Bergeron
Lotto winners will have to divide up all their winnings with the total population of the state.
Minus their initial investment, to be ‘fair’.
Beat me by ten seconds dagnabbit!!!
We musr have a Constitutional amendment that guarantees equality of “Luck”!!!
/sarcasm off
In a capitalist society, the assumption of risk is a factor of production, which must be paid from proceeds. The art history or queer studies major will likely not find employment “in their field”, particularly during the Trump administration. They took a risk and will not be paid. Luck? The petro-engineering major will likely find employment. Luck? Many yutes are banking on Hip-hop because “Their rhymes is tight”. Luck? Figure you’re a sure bet for the NBA, so no reason to study? Luck? Modelling class good looks but no class? Oh, you’re Ariana Grande. Never Mind.
I want to know if more blacks than whites win the lottery.
Yeah, that’s it. Thanks.
Yes, it’s a masterpiece both of writing and of insight.
Yep.
I know several people who created their own businesses, working 14-16 hour days, 6-7 days a week to make sure the business succeeded. Some failed and lost everything they had. Others “got lucky” after years of extremely long days/weeks without a break, and made a lot of money.
I know several doctors who worked hard in school before high school, worked insanely hard in high school to get into a good college, worked just as hard for four years of college to get into a good medical school, and then work unhealthy long hours through medical school, internship, and residency. They are now physicians and got lucky financially.
I have met two lottery winners too. They really did get lucky. Government gave them money after they made a bad bet that happened to work out. They are the exception. Most lucky people made their own luck.
Don’t golf handicaps work like this?
It is invested in stocks and bonds, etc., to earn income.
The money in stocks and bonds is used to expand and hire people, fund the municipal projects, schools, and the federal government debt.
These are mostly things liberals love.
So, out of jealousy they want to steal the money that would be used to keep them happy.
Just another proof that liberalism is a mental disease.
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