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Published Jun 24, 2021

525: Robert H. Frank | The Myth of Meritocracy

Cornell economist Robert H. Frank challenges the myth of meritocracy by exploring how luck significantly influences success, advocating for the recognition of chance alongside hard work and talent. Through economic perspectives, he emphasizes the importance of equitable opportunities and collective responsibility in achieving a fair society.
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  • Resilience

    Hard work and resilience are crucial components of success, but they are not the only factors. emphasizes that while persistence and skill are important, luck plays a significant role in achieving success. He explains that in a winner-take-all economy, those who excel in their fields often reap the greatest rewards, but this is not solely due to their efforts 1.

    The really key step is to get unusually good at something. In a winner-take-all economy, it's the people who are best at what they do, who are going to get the biggest group.

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    and Frank discuss how resilience, the ability to recover from setbacks, increases the likelihood of success, but it is not a guarantee 2.

       

    Motivation

    Motivational insights from suggest that finding a passion can lead to success. He advises students to engage in activities that induce a state of flow, where time seems to disappear, as this can lead to expertise and fulfillment 3.

    If you find a job that you love, if you find something that really does engage you so fully, that you lose any sense of the passage of time, it's going to be a lot easier for you to become an expert.

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    and Frank also discuss the importance of seizing opportunities and increasing one's chances of success by being persistent and resilient 2.

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