Success and Luck

Success and Luck

Good Fortune and the Myth of Meritocracy

Book - 2016
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"A New York Times economics columnist explores the findings in recent years by scientists who have discovered that chance plays a much larger role in important life situations than most people imagine, showing how a more accurate understanding of this discovery could lead to better, richer and fairer economies and societies, "--NoveList.
Publisher: Princeton : Princeton University Press, [2016]
Copyright Date: ©2016
ISBN: 9780691167404
Branch Call Number: HB71 .F69584 2016
Characteristics: xx, 187 pages : illustrations ; 23 cm


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Sep 24, 2016

Author makes some very good points where the luck factor comes in, but then acts as a mediocre economist supporting the status quo elsewhere: believes markets are quite competitive and meritocratic in developed countries [My God, man! Have you not read the current news for the past 10 years - - they are thoroughly rigged, and the banks own all the financial exchanges and clearinghouses so what would one expect?????] and furthermore, on p. 54 proclaims: // . . growth in inequality does not appear to have resulted from growing market imperfections or from increased outsourcing to lower-paid workers in developing countries. \\
In 1984-85, GE and others began massive offshoring of scientist, R&D tech, engineering and programming jobs, finally covered in a congressional review in 2003 [Globalization of White-Collar Jobs] and forecasting for hundreds of billions worth of more jobs over the next 15 years?!?!?
Sorry, not only does author not make case, he's not even on the gameboard - - truly submediocre!
Mentions the luck factor with Microsoft's Bill Gates, suggesting his // deep mastery of code \\ due to early access to computing at his private school - - some programmers at the early years of Micro$oft might heartily disgree with that assessment, bubba! [Super programmers abound, but Gates was never one of them!]
Also, Prof. Frank neglects to mention several important factors like: (1) Gates' mother sat on several boards with the IBM CEO, hence his focus on her son; (2) Gates' uncle was VP at First Insterstate, hence Gates' first financing of his corporation; and, (3) Micro$oft would eventually settle out of court to the owners to the rights of the original CP/M [later called Dr. DOS] to the tune of around $1 billion.
Good points on luck overall, though.


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