Against Meritocracy

Against Meritocracy

Author: Jo Littler

Publisher: Routledge

Published: 2017-08-16

Total Pages: 266

ISBN-13: 1317496035

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Meritocracy today involves the idea that whatever your social position at birth, society ought to offer enough opportunity and mobility for ‘talent’ to combine with ‘effort’ in order to ‘rise to the top’. This idea is one of the most prevalent social and cultural tropes of our time, as palpable in the speeches of politicians as in popular culture. In this book Jo Littler argues that meritocracy is the key cultural means of legitimation for contemporary neoliberal culture – and that whilst it promises opportunity, it in fact creates new forms of social division. Against Meritocracy is split into two parts. Part I explores the genealogies of meritocracy within social theory, political discourse and working cultures. It traces the dramatic U-turn in meritocracy’s meaning, from socialist slur to a contemporary ideal of how a society should be organised. Part II uses a series of case studies to analyse the cultural pull of popular ‘parables of progress’, from reality TV to the super-rich and celebrity CEOs, from social media controversies to the rise of the ‘mumpreneur’. Paying special attention to the role of gender, ‘race’ and class, this book provides new conceptualisations of the meaning of meritocracy in contemporary culture and society.


Book Synopsis Against Meritocracy by : Jo Littler

Download or read book Against Meritocracy written by Jo Littler and published by Routledge. This book was released on 2017-08-16 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Meritocracy today involves the idea that whatever your social position at birth, society ought to offer enough opportunity and mobility for ‘talent’ to combine with ‘effort’ in order to ‘rise to the top’. This idea is one of the most prevalent social and cultural tropes of our time, as palpable in the speeches of politicians as in popular culture. In this book Jo Littler argues that meritocracy is the key cultural means of legitimation for contemporary neoliberal culture – and that whilst it promises opportunity, it in fact creates new forms of social division. Against Meritocracy is split into two parts. Part I explores the genealogies of meritocracy within social theory, political discourse and working cultures. It traces the dramatic U-turn in meritocracy’s meaning, from socialist slur to a contemporary ideal of how a society should be organised. Part II uses a series of case studies to analyse the cultural pull of popular ‘parables of progress’, from reality TV to the super-rich and celebrity CEOs, from social media controversies to the rise of the ‘mumpreneur’. Paying special attention to the role of gender, ‘race’ and class, this book provides new conceptualisations of the meaning of meritocracy in contemporary culture and society.

The Meritocracy Trap

The Meritocracy Trap

Author: Daniel Markovits

Publisher: Penguin

Published: 2020-09-08

Total Pages: 450

ISBN-13: 0735222010

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A revolutionary new argument from eminent Yale Law professor Daniel Markovits attacking the false promise of meritocracy It is an axiom of American life that advantage should be earned through ability and effort. Even as the country divides itself at every turn, the meritocratic ideal – that social and economic rewards should follow achievement rather than breeding – reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream. But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy’s successes. This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.


Book Synopsis The Meritocracy Trap by : Daniel Markovits

Download or read book The Meritocracy Trap written by Daniel Markovits and published by Penguin. This book was released on 2020-09-08 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: A revolutionary new argument from eminent Yale Law professor Daniel Markovits attacking the false promise of meritocracy It is an axiom of American life that advantage should be earned through ability and effort. Even as the country divides itself at every turn, the meritocratic ideal – that social and economic rewards should follow achievement rather than breeding – reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream. But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy’s successes. This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.

The Tyranny of Merit

The Tyranny of Merit

Author: Michael J. Sandel

Publisher: Farrar, Straus and Giroux

Published: 2020-09-15

Total Pages: 288

ISBN-13: 0374720991

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A Times Literary Supplement’s Book of the Year 2020 A New Statesman's Best Book of 2020 A Bloomberg's Best Book of 2020 A Guardian Best Book About Ideas of 2020 The world-renowned philosopher and author of the bestselling Justice explores the central question of our time: What has become of the common good? These are dangerous times for democracy. We live in an age of winners and losers, where the odds are stacked in favor of the already fortunate. Stalled social mobility and entrenched inequality give the lie to the American credo that "you can make it if you try". The consequence is a brew of anger and frustration that has fueled populist protest and extreme polarization, and led to deep distrust of both government and our fellow citizens--leaving us morally unprepared to face the profound challenges of our time. World-renowned philosopher Michael J. Sandel argues that to overcome the crises that are upending our world, we must rethink the attitudes toward success and failure that have accompanied globalization and rising inequality. Sandel shows the hubris a meritocracy generates among the winners and the harsh judgement it imposes on those left behind, and traces the dire consequences across a wide swath of American life. He offers an alternative way of thinking about success--more attentive to the role of luck in human affairs, more conducive to an ethic of humility and solidarity, and more affirming of the dignity of work. The Tyranny of Merit points us toward a hopeful vision of a new politics of the common good.


Book Synopsis The Tyranny of Merit by : Michael J. Sandel

Download or read book The Tyranny of Merit written by Michael J. Sandel and published by Farrar, Straus and Giroux. This book was released on 2020-09-15 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Times Literary Supplement’s Book of the Year 2020 A New Statesman's Best Book of 2020 A Bloomberg's Best Book of 2020 A Guardian Best Book About Ideas of 2020 The world-renowned philosopher and author of the bestselling Justice explores the central question of our time: What has become of the common good? These are dangerous times for democracy. We live in an age of winners and losers, where the odds are stacked in favor of the already fortunate. Stalled social mobility and entrenched inequality give the lie to the American credo that "you can make it if you try". The consequence is a brew of anger and frustration that has fueled populist protest and extreme polarization, and led to deep distrust of both government and our fellow citizens--leaving us morally unprepared to face the profound challenges of our time. World-renowned philosopher Michael J. Sandel argues that to overcome the crises that are upending our world, we must rethink the attitudes toward success and failure that have accompanied globalization and rising inequality. Sandel shows the hubris a meritocracy generates among the winners and the harsh judgement it imposes on those left behind, and traces the dire consequences across a wide swath of American life. He offers an alternative way of thinking about success--more attentive to the role of luck in human affairs, more conducive to an ethic of humility and solidarity, and more affirming of the dignity of work. The Tyranny of Merit points us toward a hopeful vision of a new politics of the common good.

Meritocracy and Its Discontents

Meritocracy and Its Discontents

Author: Zachary M. Howlett

Publisher: Cornell University Press

Published: 2021-04-15

Total Pages: 390

ISBN-13: 1501754459

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Meritocracy and Its Discontents investigates the wider social, political, religious, and economic dimensions of the Gaokao, China's national college entrance exam, as well as the complications that arise from its existence. Each year, some nine million high school seniors in China take the Gaokao, which determines college admission and provides a direct but difficult route to an urban lifestyle for China's hundreds of millions of rural residents. But with college graduates struggling to find good jobs, some are questioning the exam's legitimacy—and, by extension, the fairness of Chinese society. Chronicling the experiences of underprivileged youth, Zachary M. Howlett's research illuminates how people remain captivated by the exam because they regard it as fateful—an event both consequential and undetermined. He finds that the exam enables people both to rebel against the social hierarchy and to achieve recognition within it. In Meritocracy and Its Discontents, Howlett contends that the Gaokao serves as a pivotal rite of passage in which people strive to personify cultural virtues such as diligence, composure, filial devotion, and divine favor.


Book Synopsis Meritocracy and Its Discontents by : Zachary M. Howlett

Download or read book Meritocracy and Its Discontents written by Zachary M. Howlett and published by Cornell University Press. This book was released on 2021-04-15 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Meritocracy and Its Discontents investigates the wider social, political, religious, and economic dimensions of the Gaokao, China's national college entrance exam, as well as the complications that arise from its existence. Each year, some nine million high school seniors in China take the Gaokao, which determines college admission and provides a direct but difficult route to an urban lifestyle for China's hundreds of millions of rural residents. But with college graduates struggling to find good jobs, some are questioning the exam's legitimacy—and, by extension, the fairness of Chinese society. Chronicling the experiences of underprivileged youth, Zachary M. Howlett's research illuminates how people remain captivated by the exam because they regard it as fateful—an event both consequential and undetermined. He finds that the exam enables people both to rebel against the social hierarchy and to achieve recognition within it. In Meritocracy and Its Discontents, Howlett contends that the Gaokao serves as a pivotal rite of passage in which people strive to personify cultural virtues such as diligence, composure, filial devotion, and divine favor.

Twilight of the Elites

Twilight of the Elites

Author: Chris Hayes

Publisher: Crown

Published: 2013-06-11

Total Pages: 306

ISBN-13: 0307720462

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A powerful and original argument that traces the roots of our present crisis of authority to an unlikely source: the meritocracy. Over the past decade, Americans watched in bafflement and rage as one institution after another – from Wall Street to Congress, the Catholic Church to corporate America, even Major League Baseball – imploded under the weight of corruption and incompetence. In the wake of the Fail Decade, Americans have historically low levels of trust in their institutions; the social contract between ordinary citizens and elites lies in tatters. How did we get here? With Twilight of the Elites, Christopher Hayes offers a radically novel answer. Since the 1960s, as the meritocracy elevated a more diverse group of men and women into power, they learned to embrace the accelerating inequality that had placed them near the very top. Their ascension heightened social distance and spawned a new American elite--one more prone to failure and corruption than any that came before it. Mixing deft political analysis, timely social commentary, and deep historical understanding, Twilight of the Elites describes how the society we have come to inhabit – utterly forgiving at the top and relentlessly punitive at the bottom – produces leaders who are out of touch with the people they have been trusted to govern. Hayes argues that the public's failure to trust the federal government, corporate America, and the media has led to a crisis of authority that threatens to engulf not just our politics but our day-to-day lives. Upending well-worn ideological and partisan categories, Hayes entirely reorients our perspective on our times. Twilight of the Elites is the defining work of social criticism for the post-bailout age.


Book Synopsis Twilight of the Elites by : Chris Hayes

Download or read book Twilight of the Elites written by Chris Hayes and published by Crown. This book was released on 2013-06-11 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: A powerful and original argument that traces the roots of our present crisis of authority to an unlikely source: the meritocracy. Over the past decade, Americans watched in bafflement and rage as one institution after another – from Wall Street to Congress, the Catholic Church to corporate America, even Major League Baseball – imploded under the weight of corruption and incompetence. In the wake of the Fail Decade, Americans have historically low levels of trust in their institutions; the social contract between ordinary citizens and elites lies in tatters. How did we get here? With Twilight of the Elites, Christopher Hayes offers a radically novel answer. Since the 1960s, as the meritocracy elevated a more diverse group of men and women into power, they learned to embrace the accelerating inequality that had placed them near the very top. Their ascension heightened social distance and spawned a new American elite--one more prone to failure and corruption than any that came before it. Mixing deft political analysis, timely social commentary, and deep historical understanding, Twilight of the Elites describes how the society we have come to inhabit – utterly forgiving at the top and relentlessly punitive at the bottom – produces leaders who are out of touch with the people they have been trusted to govern. Hayes argues that the public's failure to trust the federal government, corporate America, and the media has led to a crisis of authority that threatens to engulf not just our politics but our day-to-day lives. Upending well-worn ideological and partisan categories, Hayes entirely reorients our perspective on our times. Twilight of the Elites is the defining work of social criticism for the post-bailout age.

The Meritocracy Myth

The Meritocracy Myth

Author: Stephen J. McNamee

Publisher: Rowman & Littlefield Publishers

Published: 2009-08-16

Total Pages: 297

ISBN-13: 0742599779

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The Meritocracy Myth challenges the widely held American belief in meritocracyOCothat people get out of the system what they put into it based on individual merit. Fully revised and updated throughout, the second edition includes compelling new case studies, such as the impact of social and cultural capital in the cases of George W. Bush and Barack Obama, and new material on current topics such as the impact of the financial and credit crisis, intergenerational mobility, and the impact of racism and sexism. The Meritocracy Myth examines talent, attitude, work ethic, and character as elements of merit and evaluates the effect of non-merit factors such as social status, race, heritage, and wealth on meritocracy. A compelling book on an often-overlooked topic, first edition was highly regarded and proved a useful examination of this classic American ideal.


Book Synopsis The Meritocracy Myth by : Stephen J. McNamee

Download or read book The Meritocracy Myth written by Stephen J. McNamee and published by Rowman & Littlefield Publishers. This book was released on 2009-08-16 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Meritocracy Myth challenges the widely held American belief in meritocracyOCothat people get out of the system what they put into it based on individual merit. Fully revised and updated throughout, the second edition includes compelling new case studies, such as the impact of social and cultural capital in the cases of George W. Bush and Barack Obama, and new material on current topics such as the impact of the financial and credit crisis, intergenerational mobility, and the impact of racism and sexism. The Meritocracy Myth examines talent, attitude, work ethic, and character as elements of merit and evaluates the effect of non-merit factors such as social status, race, heritage, and wealth on meritocracy. A compelling book on an often-overlooked topic, first edition was highly regarded and proved a useful examination of this classic American ideal.

Justice and the Meritocratic State

Justice and the Meritocratic State

Author: Thomas Mulligan

Publisher: Routledge

Published: 2017-12-12

Total Pages: 238

ISBN-13: 1351980777

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Like American politics, the academic debate over justice is polarized, with almost all theories of justice falling within one of two traditions: egalitarianism and libertarianism. This book provides an alternative to the partisan standoff by focusing not on equality or liberty, but on the idea that we should give people the things that they deserve. Mulligan sets forth a theory of economic justice—meritocracy—which rests upon a desert principle and is distinctive from existing work in two ways. First, meritocracy is grounded in empirical research on how human beings think, intuitively, about justice. Research in social psychology and experimental economics reveals that people simply don’t think that social goods should be distributed equally, nor do they dismiss the idea of social justice. Across ideological and cultural lines, people believe that rewards should reflect merit. Second, the book discusses hot-button political issues and makes concrete policy recommendations. These issues include anti-meritocratic bias against women and racial minorities and the United States’ widening economic inequality. Justice and the Meritocratic State offers a new theory of justice and provides solutions to our most vexing social and economic problems. It will be of keen interest to philosophers, economists, and political theorists.


Book Synopsis Justice and the Meritocratic State by : Thomas Mulligan

Download or read book Justice and the Meritocratic State written by Thomas Mulligan and published by Routledge. This book was released on 2017-12-12 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Like American politics, the academic debate over justice is polarized, with almost all theories of justice falling within one of two traditions: egalitarianism and libertarianism. This book provides an alternative to the partisan standoff by focusing not on equality or liberty, but on the idea that we should give people the things that they deserve. Mulligan sets forth a theory of economic justice—meritocracy—which rests upon a desert principle and is distinctive from existing work in two ways. First, meritocracy is grounded in empirical research on how human beings think, intuitively, about justice. Research in social psychology and experimental economics reveals that people simply don’t think that social goods should be distributed equally, nor do they dismiss the idea of social justice. Across ideological and cultural lines, people believe that rewards should reflect merit. Second, the book discusses hot-button political issues and makes concrete policy recommendations. These issues include anti-meritocratic bias against women and racial minorities and the United States’ widening economic inequality. Justice and the Meritocratic State offers a new theory of justice and provides solutions to our most vexing social and economic problems. It will be of keen interest to philosophers, economists, and political theorists.

Meritocracy and Economic Inequality

Meritocracy and Economic Inequality

Author: Kenneth Arrow

Publisher: Princeton University Press

Published: 2018-06-26

Total Pages: 367

ISBN-13: 069119033X

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Most Americans strongly favor equality of opportunity if not outcome, but many are weary of poverty's seeming immunity to public policy. This helps to explain the recent attention paid to cultural and genetic explanations of persistent poverty, including claims that economic inequality is a function of intellectual ability, as well as more subtle depictions of the United States as a meritocracy where barriers to achievement are personal--either voluntary or inherited--rather than systemic. This volume of original essays by luminaries in the economic, social, and biological sciences, however, confirms mounting evidence that the connection between intelligence and inequality is surprisingly weak and demonstrates that targeted educational and economic reforms can reduce the income gap and improve the country's aggregate productivity and economic well-being. It also offers a novel agenda of equal access to valuable associations. Amartya Sen, John Roemer, Robert M. Hauser, Glenn Loury, Orley Ashenfelter, and others sift and analyze the latest arguments and quantitative findings on equality in order to explain how merit is and should be defined, how economic rewards are distributed, and how patterns of economic success persist across generations. Moving well beyond exploration, they draw specific conclusions that are bold yet empirically grounded, finding that schooling improves occupational success in ways unrelated to cognitive ability, that IQ is not a strong independent predictor of economic success, and that people's associations--their neighborhoods, working groups, and other social ties--significantly explain many of the poverty traps we observe. The optimistic message of this beautifully edited book is that important violations of equality of opportunity do exist but can be attenuated by policies that will serve the general economy. Policy makers will read with interest concrete suggestions for crafting economically beneficial anti-discrimination measures, enhancing educational and associational opportunity, and centering economic reforms in community-based institutions. Here is an example of some of our most brilliant social thinkers using the most advanced techniques that their disciplines have to offer to tackle an issue of great social importance.


Book Synopsis Meritocracy and Economic Inequality by : Kenneth Arrow

Download or read book Meritocracy and Economic Inequality written by Kenneth Arrow and published by Princeton University Press. This book was released on 2018-06-26 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most Americans strongly favor equality of opportunity if not outcome, but many are weary of poverty's seeming immunity to public policy. This helps to explain the recent attention paid to cultural and genetic explanations of persistent poverty, including claims that economic inequality is a function of intellectual ability, as well as more subtle depictions of the United States as a meritocracy where barriers to achievement are personal--either voluntary or inherited--rather than systemic. This volume of original essays by luminaries in the economic, social, and biological sciences, however, confirms mounting evidence that the connection between intelligence and inequality is surprisingly weak and demonstrates that targeted educational and economic reforms can reduce the income gap and improve the country's aggregate productivity and economic well-being. It also offers a novel agenda of equal access to valuable associations. Amartya Sen, John Roemer, Robert M. Hauser, Glenn Loury, Orley Ashenfelter, and others sift and analyze the latest arguments and quantitative findings on equality in order to explain how merit is and should be defined, how economic rewards are distributed, and how patterns of economic success persist across generations. Moving well beyond exploration, they draw specific conclusions that are bold yet empirically grounded, finding that schooling improves occupational success in ways unrelated to cognitive ability, that IQ is not a strong independent predictor of economic success, and that people's associations--their neighborhoods, working groups, and other social ties--significantly explain many of the poverty traps we observe. The optimistic message of this beautifully edited book is that important violations of equality of opportunity do exist but can be attenuated by policies that will serve the general economy. Policy makers will read with interest concrete suggestions for crafting economically beneficial anti-discrimination measures, enhancing educational and associational opportunity, and centering economic reforms in community-based institutions. Here is an example of some of our most brilliant social thinkers using the most advanced techniques that their disciplines have to offer to tackle an issue of great social importance.

Lost in the Meritocracy

Lost in the Meritocracy

Author: Walter Kirn

Publisher: Anchor

Published: 2010-06-01

Total Pages: 226

ISBN-13: 0307279456

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A New York Times Notable Book A Daily Beast Best Book of the Year A Huffington Post Best Book of the Year From elementary school on, Walter Kirn knew how to stay at the top of his class: He clapped erasers, memorized answer keys, and parroted his teachers’ pet theories. But when he launched himself eastward to an Ivy League university, Kirn discovered that the temple of higher learning he had expected was instead just another arena for more gamesmanship, snobbery, and social climbing. In this whip-smart memoir of kissing-up, cramming, and competition, Lost in the Meritocracy reckons the costs of an educational system where the point is simply to keep accumulating points and never to look back—or within.


Book Synopsis Lost in the Meritocracy by : Walter Kirn

Download or read book Lost in the Meritocracy written by Walter Kirn and published by Anchor. This book was released on 2010-06-01 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Notable Book A Daily Beast Best Book of the Year A Huffington Post Best Book of the Year From elementary school on, Walter Kirn knew how to stay at the top of his class: He clapped erasers, memorized answer keys, and parroted his teachers’ pet theories. But when he launched himself eastward to an Ivy League university, Kirn discovered that the temple of higher learning he had expected was instead just another arena for more gamesmanship, snobbery, and social climbing. In this whip-smart memoir of kissing-up, cramming, and competition, Lost in the Meritocracy reckons the costs of an educational system where the point is simply to keep accumulating points and never to look back—or within.

Success and Luck

Success and Luck

Author: Robert H. Frank

Publisher: Princeton University Press

Published: 2016-04-19

Total Pages: 208

ISBN-13: 1400880270

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From New York Times bestselling author and economics columnist Robert Frank, a compelling book that explains why the rich underestimate the importance of luck in their success, why that hurts everyone, and what we can do about it How 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.


Book Synopsis Success and Luck by : Robert H. Frank

Download or read book Success and Luck written by Robert H. Frank and published by Princeton University Press. This book was released on 2016-04-19 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: From New York Times bestselling author and economics columnist Robert Frank, a compelling book that explains why the rich underestimate the importance of luck in their success, why that hurts everyone, and what we can do about it How 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.