Archive for May 9th, 2016

Who was David Hume?

May 9, 2016

Anthony Gottlieb reviews Hume: An Intellectual Biography by James A. Harris. In the process, one gets some very interesting episodes in one of the most eminent thinkers of our time..

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How markets magnify the role of luck and create the illusion of meritocracy…

May 9, 2016

It is not just about 1% and 99%. It is also about what makes nearly similar talented people enter the 1%. Why is it that people with similar talents earn such dramatically different incomes?

Robert H. Frank says luck matters greatly in those outcomes. People who are luckier and are chosen by so called market process continue to be eventually rewarded. Whereas others equally talented and not as lucky are left out:

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