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MIT Tech Review reports on a new study which used computer model to analyze wealth distribution in society. It concludes that the majority of riches do not result from talent, intelligence or hard work - but luck. Those who succeed most in modern society are born well and experience several 'lucky events' which they exploit, but are of mediocre talent. The study's abstract states that the model has potential for encouraging investment in the genuinely gifted, and summarizes:
"...if it is true that some degree of talent is necessary to be successful in life, almost never the most talented people reach the highest peaks of success, being overtaken by mediocre but sensibly luckier individuals. As to our knowledge, this counterintuitive result - although implicitly suggested between the lines in a vast literature - is quantified here for the first time."
(Score: 3, Insightful) by jelizondo on Sunday March 04 2018, @12:28AM (3 children)
There the story of a man who from very humble origins rose to be very rich back in Galicia. On an interview, the reporter asked him about his early life and the rich guy recounted how he wanted to be a sexton in his local church but was rejected.
Later the reporter marvels at him, ‘You have achieved much, being one of the richest men in Spain. Imagine don Venancio, what could you have been if you had learned to read and write!’ to which the rich man replies: ‘I would have been a sexton in Galicia!’
No ‘self-made’ man will admit how much luck played a part on his success, but I know I happened to be on more than one occasion at the right place at the right time and got great breaks thru luck, destiny or $Deity’s grace; so I know my success was not entirely due to my effort, well-know intelligence and good looks. :-)
(Score: 5, Funny) by Gaaark on Sunday March 04 2018, @12:58AM
Then there the story of a guy who was shooting at some food when up from the ground came a bubbling crude; oil, that is. Black gold. Texas tea.
But then there's that other bunch that went on a three hour tour. A three hour tour!
It's all luck, lol.
:)
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 1, Troll) by jmorris on Sunday March 04 2018, @12:58AM (1 child)
Many are in the right place at the right time and simply fail to notice the opportunity as it passes them by. That is a big part of success. Being the best at a specialty just means you will be a valuable employee slaving away in a cube farm unless you have that risk taking attitude and keep alert to opportunity when it appears.
We see these "studies" every time Democrats are wanting to launch a fresh round of coveting and stealing. You have to remove the idea those who have more did something to earn it to rationalize seizing it. Most people still have enough residual morality to resist the idea of outright theft. So Progs control education, media and language itself to break that resistance down. Look at terms like "unearned income" rising to popularity, official use in the tax code, etc. instead of "investment income."
Striking it super rich does have an element of luck, but becoming a top 1% person is almost automatic if one does certain things and doing other things will just as surely doom one to the bottom of the stack.
(Score: 1, Informative) by Anonymous Coward on Sunday March 04 2018, @02:48AM
...and the existing financial resources to survive taking a risk that might not pan out.