[ExI] Computer simulations show wealthy people are not better just luckier
sparge at gmail.com
Mon Jun 4 17:35:28 UTC 2018
On Mon, Jun 4, 2018 at 4:17 AM Stuart LaForge <avant at sollegro.com> wrote:
> A study which which dispels any illusion that society is any kind of
> meritocracy by showing why wealth in society follows a power-law
> distribution (80-20 rule) when every possible measure of human talent (IQ,
> hours worked, etc.) follow a normal distribution (bell curve).
It seems to me like they're not taking into account the feedback loop that
compounds wealth loss and gain. If you want to achieve $2 billion net
worth, your odds of doing that vastly improved if your current net worth is
$1 billion versus $1 million or $100k.
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