Luck and the Myth of Meritocracy

In a world increasingly dominated by winner-take-all markets, good fortune and what may seem as trivial initial advantages often translate into guaranteed success over time. Despite this, false beliefs about luck and personal success persist, and can often shape individual and political choices in harmful ways. At the RSA, influential economist and New York Times columnist Robert Frank argues that it is vital that we gain a more accurate understanding of the role of chance if we are to create better, fairer economies and societies, and shows how inequality driven by chance can be mitigated by adopting relatively simple policy solutions.