Robert Frank on the 'Myth of Meritocracy'
This week on our Masters in Business podcast, we speak with Robert Frank, economics professor as Cornell University’s S.C. Johnson Graduate School of Management.
Frank, who was studying income inequality long before it became a topic of cocktail-party chatter, is perhaps best known for his 1995 book, "The Winner-Take-All Society." His latest book, "Success and Luck: Good Fortune and the Myth of Meritocracy," examines the tendency of people to underestimate the impact of chance -- and overestimate their own skills -- in terms of financial outcomes. The implications for investors are many and broad.
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