"Reward the Second Best..."

[handmade34]

http://www.sciencedaily.com/releases/2012/06/120622163509.htm

"Successful people don't like to have their success explained by luck, while audiences, too, seem unwilling to acknowledge the role of luck in determining success. As a result, the stories of the most successful attract the most media attention -- described as 'extreme success' in this research report. These outliers are perceived to be the most skilful and so receive the highest rewards and get imitated.

However, new research by Dr Chengwei Liu, Assistant Professor of Strategy & Behavioural Science at Warwick Business School and Professor Jerker Denrell at Oxford Saïd Business School shows that the idea that the exceptional performers are the most skilled is flawed. The reason is that exceptional performance often occurs in exceptional circumstances. Top performers are often the luckiest people, who have benefitted from rich-get-richer dynamics that boost their initial fortune...

The lucky few should understand and appreciate the role that luck played in their extreme success, and with that understanding comes an obligation to those that have not. The lucky few may be more skilful than others eventually, but the way they gain their superior skill can be due to strong rich-get-richer dynamics combined with the good fortune of being successful initially. This can justify a higher tax rate for the richest when their extreme fortune is accumulated in the fortunate fashion defined in this research..."

[iemitsu]

1. i will read the larger article mainly because

this excerpt is a bit convoluted. i think i agree with the major premise but the terms used to describe privilege (luck) would not have been my first choice.

[iemitsu]

2. seems the real message is that we are all inter-related and those who

flourish do so due to the circumstances of their existence (which the larger community creates) more than due to their own hard work or skills.
i think it is a fine argument and i'm willing to accept its validity but i still think the text is not terribly clear.

[Control-Z]

3. Did it really require

research to figure this out? No woman or man is self made. Not a one.

[iemitsu]

4. it only needs the research because it refutes

what so many in capitalist societies believe by faith, that some deserve more than others.
it would be nice to live in a society that recognized how contributions of the many are necessary for the success of the few.

[handmade34]

5. well...

in this climate, many argue that it is only those who work hard and work smart, that succeed...

but Elizabeth Warren knows better...

[Laelth]

6. k&r for exposure. n/t

-Laelth