Thoughts and observations

Week 15-17: Luck

In an attempt to start writing again, I am trying a new format collecting interesting things from the past week.

I read Investing Is More Luck Than Talent on the statistics of wealth distribution. Levy argues “the distribution of wealth at the highest end of the scale is quite consistent with pure luck.” It’s an interesting read.

Also related, Corporations In The Age Of Inequality describes how firm inequality is a significant contributing factor to individual inequality. Bloom writes:

In an increasingly winner-take-all or at least winner-take-most economy, the best-educated and most-skilled employees cluster inside the most successful companies, their incomes rising dramatically compared with those of outsiders.

We need to work out how to move beyond simply talking about income inequality, and start practically fixing the problem. The tax system seems a good place to start, along with investing more in education and health.

Compile clac if you need a postfix (Reverse Polish Notation) Terminal calculator. I’ve used a HP RPN calculator for many years and much prefer it to infix notation.