Good Fortune and the Myth of Meritocracy
Interview with Robert H. Frank about his book Success and Luck: Good Fortune and the Myth of Meritocracy. Argues that luck plays a more significant – and increasing – role in success than commonly acknowledged, often obscured by hindsight bias. People’s resistance to this thesis stems from a desire for full credit and fears of diminished motivation. However, the rise of winner-take-all markets, exacerbated by globalisation and social media, amplifies luck’s impact. Suggests that acknowledging luck fosters a more equitable society, encouraging collective investment in infrastructure and institutions. Advocates asking people about their lucky breaks rather than telling them.
