The Role of Luck in Life Is Still Misunderstood
&gt; It could be that the results were built into the model’s design.<p>Every true mathematical proposition is a tautology. I don&#x27;t find this point particularly convincing. As long as the model&#x27;s predictions match reality in interesting ways, it can lend possible insights on why reality might have certain characteristics.<p>&gt; Like getting an improbable series of heads when flipping a coin long enough, improbable clusters of events are bound to occur for at least some agents in a large enough set.<p>Yes, but what&#x27;s alarming is how <i>most</i> agents&#x27; capital fell from bad luck alone, and how good luck only seemed to benefit a very small subset of the population, and talent was not any kind of guarantee. These characteristics of life are denied by many people, so to see it reflected in such a simple model is, I hope, instructive.<p>&gt; Why should capital growth only occur on chance events, when most workers are paid wages in exchange for their work?<p>The way I see it, chance events that exponentially increase wealth drown out one&#x27;s piddling wages. Wages don&#x27;t seem particularly relevant to why Warren Buffet and Bill Gates have billions, and many people live paycheck to paycheck.