Meritocracy And Success

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Success and Luck

Author : Robert H. Frank
Publisher : Princeton University Press
ISBN 13 : 0691178305
Total Pages : 202 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Success and Luck by : Robert H. Frank

Download or read book Success and Luck written by Robert H. Frank and published by Princeton University Press. This book was released on 2017-09-26 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: From New York Times bestselling author and economics columnist Robert Frank, a compelling book that explains why the rich underestimate the importance of luck in their success, why that hurts everyone, and what we can do about it How important is luck in economic success? No question more reliably divides conservatives from liberals. As conservatives correctly observe, people who amass great fortunes are almost always talented and hardworking. But liberals are also correct to note that countless others have those same qualities yet never earn much. In recent years, social scientists have discovered that chance plays a much larger role in important life outcomes than most people imagine. In Success and Luck, bestselling author and New York Times economics columnist Robert Frank explores the surprising implications of those findings to show why the rich underestimate the importance of luck in success—and why that hurts everyone, even the wealthy. Frank describes how, in a world increasingly dominated by winner-take-all markets, chance opportunities and trivial initial advantages often translate into much larger ones—and enormous income differences—over time; how false beliefs about luck persist, despite compelling evidence against them; and how myths about personal success and luck shape individual and political choices in harmful ways. But, Frank argues, we could decrease the inequality driven by sheer luck by adopting simple, unintrusive policies that would free up trillions of dollars each year—more than enough to fix our crumbling infrastructure, expand healthcare coverage, fight global warming, and reduce poverty, all without requiring painful sacrifices from anyone. If this sounds implausible, you'll be surprised to discover that the solution requires only a few, noncontroversial steps. Compellingly readable, Success and Luck shows how a more accurate understanding of the role of chance in life could lead to better, richer, and fairer economies and societies.

The Tyranny of Merit

Author : Michael J. Sandel
Publisher : Farrar, Straus and Giroux
ISBN 13 : 0374720991
Total Pages : 288 pages
Book Rating : 4.3/5 (747 download)

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Book Synopsis The Tyranny of Merit by : Michael J. Sandel

Download or read book The Tyranny of Merit written by Michael J. Sandel and published by Farrar, Straus and Giroux. This book was released on 2020-09-15 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Times Literary Supplement’s Book of the Year 2020 A New Statesman's Best Book of 2020 A Bloomberg's Best Book of 2020 A Guardian Best Book About Ideas of 2020 The world-renowned philosopher and author of the bestselling Justice explores the central question of our time: What has become of the common good? These are dangerous times for democracy. We live in an age of winners and losers, where the odds are stacked in favor of the already fortunate. Stalled social mobility and entrenched inequality give the lie to the American credo that "you can make it if you try". The consequence is a brew of anger and frustration that has fueled populist protest and extreme polarization, and led to deep distrust of both government and our fellow citizens--leaving us morally unprepared to face the profound challenges of our time. World-renowned philosopher Michael J. Sandel argues that to overcome the crises that are upending our world, we must rethink the attitudes toward success and failure that have accompanied globalization and rising inequality. Sandel shows the hubris a meritocracy generates among the winners and the harsh judgement it imposes on those left behind, and traces the dire consequences across a wide swath of American life. He offers an alternative way of thinking about success--more attentive to the role of luck in human affairs, more conducive to an ethic of humility and solidarity, and more affirming of the dignity of work. The Tyranny of Merit points us toward a hopeful vision of a new politics of the common good.

The Meritocracy Trap

Author : Daniel Markovits
Publisher : Penguin
ISBN 13 : 0735222010
Total Pages : 450 pages
Book Rating : 4.7/5 (352 download)

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Book Synopsis The Meritocracy Trap by : Daniel Markovits

Download or read book The Meritocracy Trap written by Daniel Markovits and published by Penguin. This book was released on 2020-09-08 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: A revolutionary new argument from eminent Yale Law professor Daniel Markovits attacking the false promise of meritocracy It is an axiom of American life that advantage should be earned through ability and effort. Even as the country divides itself at every turn, the meritocratic ideal – that social and economic rewards should follow achievement rather than breeding – reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream. But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy’s successes. This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.

Meritocracy and Economic Inequality

Author : Kenneth Arrow
Publisher : Princeton University Press
ISBN 13 : 069119033X
Total Pages : 367 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Meritocracy and Economic Inequality by : Kenneth Arrow

Download or read book Meritocracy and Economic Inequality written by Kenneth Arrow and published by Princeton University Press. This book was released on 2018-06-26 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most Americans strongly favor equality of opportunity if not outcome, but many are weary of poverty's seeming immunity to public policy. This helps to explain the recent attention paid to cultural and genetic explanations of persistent poverty, including claims that economic inequality is a function of intellectual ability, as well as more subtle depictions of the United States as a meritocracy where barriers to achievement are personal--either voluntary or inherited--rather than systemic. This volume of original essays by luminaries in the economic, social, and biological sciences, however, confirms mounting evidence that the connection between intelligence and inequality is surprisingly weak and demonstrates that targeted educational and economic reforms can reduce the income gap and improve the country's aggregate productivity and economic well-being. It also offers a novel agenda of equal access to valuable associations. Amartya Sen, John Roemer, Robert M. Hauser, Glenn Loury, Orley Ashenfelter, and others sift and analyze the latest arguments and quantitative findings on equality in order to explain how merit is and should be defined, how economic rewards are distributed, and how patterns of economic success persist across generations. Moving well beyond exploration, they draw specific conclusions that are bold yet empirically grounded, finding that schooling improves occupational success in ways unrelated to cognitive ability, that IQ is not a strong independent predictor of economic success, and that people's associations--their neighborhoods, working groups, and other social ties--significantly explain many of the poverty traps we observe. The optimistic message of this beautifully edited book is that important violations of equality of opportunity do exist but can be attenuated by policies that will serve the general economy. Policy makers will read with interest concrete suggestions for crafting economically beneficial anti-discrimination measures, enhancing educational and associational opportunity, and centering economic reforms in community-based institutions. Here is an example of some of our most brilliant social thinkers using the most advanced techniques that their disciplines have to offer to tackle an issue of great social importance.

The Meritocracy Myth

Author : Stephen J. McNamee
Publisher : Rowman & Littlefield Publishers
ISBN 13 : 0742599779
Total Pages : 297 pages
Book Rating : 4.7/5 (425 download)

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Book Synopsis The Meritocracy Myth by : Stephen J. McNamee

Download or read book The Meritocracy Myth written by Stephen J. McNamee and published by Rowman & Littlefield Publishers. This book was released on 2009-08-16 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Meritocracy Myth challenges the widely held American belief in meritocracyOCothat people get out of the system what they put into it based on individual merit. Fully revised and updated throughout, the second edition includes compelling new case studies, such as the impact of social and cultural capital in the cases of George W. Bush and Barack Obama, and new material on current topics such as the impact of the financial and credit crisis, intergenerational mobility, and the impact of racism and sexism. The Meritocracy Myth examines talent, attitude, work ethic, and character as elements of merit and evaluates the effect of non-merit factors such as social status, race, heritage, and wealth on meritocracy. A compelling book on an often-overlooked topic, first edition was highly regarded and proved a useful examination of this classic American ideal.

Management of Success

Author : Terence Chong
Publisher : Institute of Southeast Asian
ISBN 13 : 9814279854
Total Pages : 669 pages
Book Rating : 4.8/5 (142 download)

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Book Synopsis Management of Success by : Terence Chong

Download or read book Management of Success written by Terence Chong and published by Institute of Southeast Asian. This book was released on 2010 with total page 669 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rev. ed. of: Management of success, the moulding of modern Singapore.

The Cult of Smart

Author : Fredrik deBoer
Publisher : All Points Books
ISBN 13 : 1250200385
Total Pages : 272 pages
Book Rating : 4.2/5 (52 download)

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Book Synopsis The Cult of Smart by : Fredrik deBoer

Download or read book The Cult of Smart written by Fredrik deBoer and published by All Points Books. This book was released on 2020-08-04 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Named one of Vulture’s Top 10 Best Books of 2020! Leftist firebrand Fredrik deBoer exposes the lie at the heart of our educational system and demands top-to-bottom reform. Everyone agrees that education is the key to creating a more just and equal world, and that our schools are broken and failing. Proposed reforms variously target incompetent teachers, corrupt union practices, or outdated curricula, but no one acknowledges a scientifically-proven fact that we all understand intuitively: Academic potential varies between individuals, and cannot be dramatically improved. In The Cult of Smart, educator and outspoken leftist Fredrik deBoer exposes this omission as the central flaw of our entire society, which has created and perpetuated an unjust class structure based on intellectual ability. Since cognitive talent varies from person to person, our education system can never create equal opportunity for all. Instead, it teaches our children that hierarchy and competition are natural, and that human value should be based on intelligence. These ideas are counter to everything that the left believes, but until they acknowledge the existence of individual cognitive differences, progressives remain complicit in keeping the status quo in place. This passionate, voice-driven manifesto demands that we embrace a new goal for education: equality of outcomes. We must create a world that has a place for everyone, not just the academically talented. But we’ll never achieve this dream until the Cult of Smart is destroyed.

The Aristocracy of Talent

Author : Adrian Wooldridge
Publisher : Simon and Schuster
ISBN 13 : 1510768629
Total Pages : 594 pages
Book Rating : 4.5/5 (17 download)

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Book Synopsis The Aristocracy of Talent by : Adrian Wooldridge

Download or read book The Aristocracy of Talent written by Adrian Wooldridge and published by Simon and Schuster. This book was released on 2021-07-13 with total page 594 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Times (UK) book of the year! Meritocracy: the idea that people should be advanced according to their talents rather than their birth. While this initially seemed like a novel concept, by the end of the twentieth century it had become the world's ruling ideology. How did this happen, and why is meritocracy now under attack from both right and left? In The Aristocracy of Talent, esteemed journalist and historian Adrian Wooldridge traces the history of meritocracy forged by the politicians and officials who introduced the revolutionary principle of open competition, the psychologists who devised methods for measuring natural mental abilities, and the educationalists who built ladders of educational opportunity. He looks outside western cultures and shows what transformative effects it has had everywhere it has been adopted, especially once women were brought into the meritocratic system. Wooldridge also shows how meritocracy has now become corrupted and argues that the recent stalling of social mobility is the result of failure to complete the meritocratic revolution. Rather than abandoning meritocracy, he says, we should call for its renewal.

The Second Mountain

Author : David Brooks
Publisher : Random House
ISBN 13 : 0679645047
Total Pages : 384 pages
Book Rating : 4.6/5 (796 download)

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Book Synopsis The Second Mountain by : David Brooks

Download or read book The Second Mountain written by David Brooks and published by Random House. This book was released on 2019-04-16 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: #1 NEW YORK TIMES BESTSELLER • Everybody tells you to live for a cause larger than yourself, but how exactly do you do it? The author of The Road to Character explores what it takes to lead a meaningful life in a self-centered world. “Deeply moving, frequently eloquent and extraordinarily incisive.”—The Washington Post Every so often, you meet people who radiate joy—who seem to know why they were put on this earth, who glow with a kind of inner light. Life, for these people, has often followed what we might think of as a two-mountain shape. They get out of school, they start a career, and they begin climbing the mountain they thought they were meant to climb. Their goals on this first mountain are the ones our culture endorses: to be a success, to make your mark, to experience personal happiness. But when they get to the top of that mountain, something happens. They look around and find the view . . . unsatisfying. They realize: This wasn’t my mountain after all. There’s another, bigger mountain out there that is actually my mountain. And so they embark on a new journey. On the second mountain, life moves from self-centered to other-centered. They want the things that are truly worth wanting, not the things other people tell them to want. They embrace a life of interdependence, not independence. They surrender to a life of commitment. In The Second Mountain, David Brooks explores the four commitments that define a life of meaning and purpose: to a spouse and family, to a vocation, to a philosophy or faith, and to a community. Our personal fulfillment depends on how well we choose and execute these commitments. Brooks looks at a range of people who have lived joyous, committed lives, and who have embraced the necessity and beauty of dependence. He gathers their wisdom on how to choose a partner, how to pick a vocation, how to live out a philosophy, and how we can begin to integrate our commitments into one overriding purpose. In short, this book is meant to help us all lead more meaningful lives. But it’s also a provocative social commentary. We live in a society, Brooks argues, that celebrates freedom, that tells us to be true to ourselves, at the expense of surrendering to a cause, rooting ourselves in a neighborhood, binding ourselves to others by social solidarity and love. We have taken individualism to the extreme—and in the process we have torn the social fabric in a thousand different ways. The path to repair is through making deeper commitments. In The Second Mountain, Brooks shows what can happen when we put commitment-making at the center of our lives.

The Tyranny of the Meritocracy

Author : Lani Guinier
Publisher : Beacon Press
ISBN 13 : 0807078123
Total Pages : 176 pages
Book Rating : 4.8/5 (7 download)

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Book Synopsis The Tyranny of the Meritocracy by : Lani Guinier

Download or read book The Tyranny of the Meritocracy written by Lani Guinier and published by Beacon Press. This book was released on 2016-01-12 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fresh and bold argument for revamping our standards of “merit” and a clear blueprint for creating collaborative education models that strengthen our democracy rather than privileging individual elites Standing on the foundations of America’s promise of equal opportunity, our universities purport to serve as engines of social mobility and practitioners of democracy. But as acclaimed scholar and pioneering civil rights advocate Lani Guinier argues, the merit systems that dictate the admissions practices of these institutions are functioning to select and privilege elite individuals rather than create learning communities geared to advance democratic societies. Having studied and taught at schools such as Harvard University, Yale Law School, and the University of Pennsylvania Law School, Guinier has spent years examining the experiences of ethnic minorities and of women at the nation’s top institutions of higher education, and here she lays bare the practices that impede the stated missions of these schools. Goaded on by a contemporary culture that establishes value through ranking and sorting, universities assess applicants using the vocabulary of private, highly individualized merit. As a result of private merit standards and ever-increasing tuitions, our colleges and universities increasingly are failing in their mission to provide educational opportunity and to prepare students for productive and engaged citizenship. To reclaim higher education as a cornerstone of democracy, Guinier argues that institutions of higher learning must focus on admitting and educating a class of students who will be critical thinkers, active citizens, and publicly spirited leaders. Guinier presents a plan for considering “democratic merit,” a system that measures the success of higher education not by the personal qualities of the students who enter but by the work and service performed by the graduates who leave. Guinier goes on to offer vivid examples of communities that have developed effective learning strategies based not on an individual’s “merit” but on the collaborative strength of a group, learning and working together, supporting members, and evolving into powerful collectives. Examples are taken from across the country and include a wide range of approaches, each innovative and effective. Guinier argues for reformation, not only of the very premises of admissions practices but of the shape of higher education itself.

Establishment and Meritocracy

Author : Peter Hennessy
Publisher : Haus Publishing
ISBN 13 : 1908323787
Total Pages : 62 pages
Book Rating : 4.9/5 (83 download)

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Book Synopsis Establishment and Meritocracy by : Peter Hennessy

Download or read book Establishment and Meritocracy written by Peter Hennessy and published by Haus Publishing. This book was released on 2015-03-15 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Like so many of the postwar generation in Britain, Peter Hennessy climbed the ladders of opportunity set up by the 1944 Education Act designed to encourage a more meritocratic society. In this highly personal book, Hennessy examines the rise of meritocracy as a concept and the persistence of the shadowy notion of an establishment in Britain’s institutions of state. He asks whether these elusive concepts still have any power to explain British society, and why they continue to fascinate us. To what extent are the ideas of meritocracy and the establishment simply imagined? And if a meritocracy rose in the years following 1945, has it now stalled? With its penetrating examination of the British school system and postwar trends, Establishment and Meritocracy is an important resource for those concerned about the link between education and later success, both for individuals and their societies.

Meritocracy and Its Discontents

Author : Zachary M. Howlett
Publisher : Cornell University Press
ISBN 13 : 1501754459
Total Pages : 390 pages
Book Rating : 4.5/5 (17 download)

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Book Synopsis Meritocracy and Its Discontents by : Zachary M. Howlett

Download or read book Meritocracy and Its Discontents written by Zachary M. Howlett and published by Cornell University Press. This book was released on 2021-04-15 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Meritocracy and Its Discontents investigates the wider social, political, religious, and economic dimensions of the Gaokao, China's national college entrance exam, as well as the complications that arise from its existence. Each year, some nine million high school seniors in China take the Gaokao, which determines college admission and provides a direct but difficult route to an urban lifestyle for China's hundreds of millions of rural residents. But with college graduates struggling to find good jobs, some are questioning the exam's legitimacy—and, by extension, the fairness of Chinese society. Chronicling the experiences of underprivileged youth, Zachary M. Howlett's research illuminates how people remain captivated by the exam because they regard it as fateful—an event both consequential and undetermined. He finds that the exam enables people both to rebel against the social hierarchy and to achieve recognition within it. In Meritocracy and Its Discontents, Howlett contends that the Gaokao serves as a pivotal rite of passage in which people strive to personify cultural virtues such as diligence, composure, filial devotion, and divine favor.

The China Model

Author : Daniel A. Bell
Publisher : Princeton University Press
ISBN 13 : 1400883482
Total Pages : 355 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The China Model by : Daniel A. Bell

Download or read book The China Model written by Daniel A. Bell and published by Princeton University Press. This book was released on 2016-08-23 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: How China's political model could prove to be a viable alternative to Western democracy Westerners tend to divide the political world into "good" democracies and “bad” authoritarian regimes. But the Chinese political model does not fit neatly in either category. Over the past three decades, China has evolved a political system that can best be described as “political meritocracy.” The China Model seeks to understand the ideals and the reality of this unique political system. How do the ideals of political meritocracy set the standard for evaluating political progress (and regress) in China? How can China avoid the disadvantages of political meritocracy? And how can political meritocracy best be combined with democracy? Daniel Bell answers these questions and more. Opening with a critique of “one person, one vote” as a way of choosing top leaders, Bell argues that Chinese-style political meritocracy can help to remedy the key flaws of electoral democracy. He discusses the advantages and pitfalls of political meritocracy, distinguishes between different ways of combining meritocracy and democracy, and argues that China has evolved a model of democratic meritocracy that is morally desirable and politically stable. Bell summarizes and evaluates the “China model”—meritocracy at the top, experimentation in the middle, and democracy at the bottom—and its implications for the rest of the world. A timely and original book that will stir up interest and debate, The China Model looks at a political system that not only has had a long history in China, but could prove to be the most important political development of the twenty-first century.

Higher Education, Meritocracy and Inequality in China

Author : Ye Liu
Publisher : Springer
ISBN 13 : 9811015880
Total Pages : 231 pages
Book Rating : 4.8/5 (11 download)

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Book Synopsis Higher Education, Meritocracy and Inequality in China by : Ye Liu

Download or read book Higher Education, Meritocracy and Inequality in China written by Ye Liu and published by Springer. This book was released on 2016-10-08 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the changing opportunities in higher education for different social groups during China’s transition from the socialist regime to a market economy. The first part of the book provides a historical and comparative analysis of the development of the idea of meritocracy, since its early origins in China, and in more recent western thought. The second part then explores higher education reforms in China, the part played by supposedly meritocratic forms of selection, and the implications of these for social mobility. Based on original empirical data, Ye Liu sheds light on the socio-economic, gender and geographical inequalities behind the meritocratic façade of the Gaokao (高考). Liu argues that the Chinese philosophical belief in education-based meritocracy had a modern makeover in the Gaokao, and that this ideology induces working-class and rural students to believe in upward social mobility through higher education. When the Gaokao broke the promise of status improvement for rural students, they turned to the Chinese Communist Party and sought political connections by actively applying for its membership. This book reveals a bleak picture of visible and invisible inequality in terms of access to and participation in higher education in contemporary China. Written in an accessible style, it offers a valuable resource for researchers and non-specialist readers alike.

Against Meritocracy

Author : Jo Littler
Publisher : Routledge
ISBN 13 : 1317496035
Total Pages : 266 pages
Book Rating : 4.3/5 (174 download)

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Book Synopsis Against Meritocracy by : Jo Littler

Download or read book Against Meritocracy written by Jo Littler and published by Routledge. This book was released on 2017-08-16 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Meritocracy today involves the idea that whatever your social position at birth, society ought to offer enough opportunity and mobility for ‘talent’ to combine with ‘effort’ in order to ‘rise to the top’. This idea is one of the most prevalent social and cultural tropes of our time, as palpable in the speeches of politicians as in popular culture. In this book Jo Littler argues that meritocracy is the key cultural means of legitimation for contemporary neoliberal culture – and that whilst it promises opportunity, it in fact creates new forms of social division. Against Meritocracy is split into two parts. Part I explores the genealogies of meritocracy within social theory, political discourse and working cultures. It traces the dramatic U-turn in meritocracy’s meaning, from socialist slur to a contemporary ideal of how a society should be organised. Part II uses a series of case studies to analyse the cultural pull of popular ‘parables of progress’, from reality TV to the super-rich and celebrity CEOs, from social media controversies to the rise of the ‘mumpreneur’. Paying special attention to the role of gender, ‘race’ and class, this book provides new conceptualisations of the meaning of meritocracy in contemporary culture and society.

Philosophy for Life and Other Dangerous Situations

Author : Jules Evans
Publisher : New World Library
ISBN 13 : 1608682307
Total Pages : 322 pages
Book Rating : 4.6/5 (86 download)

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Book Synopsis Philosophy for Life and Other Dangerous Situations by : Jules Evans

Download or read book Philosophy for Life and Other Dangerous Situations written by Jules Evans and published by New World Library. This book was released on 2013-10-03 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: When philosophy rescued him from an emotional crisis, Jules Evans became fascinated by how ideas invented over two thousand years ago can help us today. He interviewed soldiers, psychologists, gangsters, astronauts, and anarchists and discovered the ways that people are using philosophy now to build better lives. Ancient philosophy has inspired modern communities — Socratic cafés, Stoic armies, Epicurean communes — and even whole nations in the quest for the good life. This book is an invitation to a dream school with a rowdy faculty that includes twelve of the greatest philosophers from the ancient world, sharing their lessons on happiness, resilience, and much more. Lively and inspiring, this is philosophy for the street, for the workplace, for the battlefield, for love, for life.

The Winner-Take-All Society

Author : Robert Frank
Publisher : Penguin
ISBN 13 : 0140259953
Total Pages : 289 pages
Book Rating : 4.1/5 (42 download)

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Book Synopsis The Winner-Take-All Society by : Robert Frank

Download or read book The Winner-Take-All Society written by Robert Frank and published by Penguin. This book was released on 1996-09-01 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disney chairman Michael Eisner topped the 1993 Business Week chart of America's highest-paid executives, his $203 million in earnings roughly 10,000 times that of the lowest paid Disney employee. During the last two decades, the top one percent of U.S. earners captured more than 40 percent of the country's total earnings growth, one of the largest shifts any society has endured without a revolution or military defeat. Robert H. Frank and Philip J. Cook argue that behind this shift lies the spread of "winner-take-all markets"—markets in which small differences in performance give rise to enormous differences in reward. Long familiar in sports and entertainment, this payoff pattern has increasingly permeated law, finance, fashion, publishing, and other fields. The result: in addition to the growing gap between rich and poor, we see important professions like teaching and engineering in aching need of more talent. This relentless emphasis on coming out on top—the best-selling book, the blockbuster film, the Super Bowl winner—has molded our discourse in ways that many find deeply troubling.