(Blog) How Invisible Inequality Hurts the Poor
“In a lecture at INSEAD’s Fontainebleau campus a couple of months ago, Professor Robert Frank of Cornell University argued that pure luck (beyond effort and personal circumstances) would become more salient for professional success and quality of life in the context of a winner-take-all society fuelled by technology (digitalisation in particular) and new ways of doing business. Frank’s argument resonates: Economic and social advantages clearly are disproportionately accruing to the ‘lucky’ few who create the next big start-up or come up with a digital idea that goes viral. And top executives are landing astronomical salaries since just a bit more managerial capacity can make the difference between market dominance and total failure.”