If hard work, intelligence, and skill aren’t always reflected in one’s success, what is? A group of scientists created a model to determine this, and the results indicated that luck was the major factor. Both good luck and bad luck are major factors in determining how well one does. The best way for society to respond is to equally fund scientists seeking grants. Likewise, investors should equally fund investment opportunities instead of trying to identify winners in advance.
That may not be surprising or unfair if the wealthiest 20 percent turn out to be the most talented. But that isn’t what happens. The wealthiest individuals are typically not the most talented or anywhere near it. “The maximum success never coincides with the maximum talent, and vice-versa,” say the researchers.
So if not talent, what other factor causes this skewed wealth distribution? “Our simulation clearly shows that such a factor is just pure luck,” say Pluchino and co.