Prix : 20,79 €
Acheter maintenant avec 1 crédit audio
Acheter maintenant pour 20,79 €
There is nothing surprising or clever in observing that luck is generally an important element of success, but Robert Frank seems to think there is. His objective seems to be to make a political point : since an entrepreneur, taker of risk by definition, must have been lucky (as well as clever and hard-working) he should be happy to be heavily taxed once he realises that his success is largely a matter of luck. Frank's evidence often seems weak (for example, based on rather feeble simulations), he ignores weaknesses in his arguments (for example, he argues for high consumption taxes, then admits these would hit aggregate demand, so says they should only be brought in slowly when the financial crisis has been completely solved). He reports experimental results as percentages where the absolute difference would seem more valid, and he repeats some rather silly examples (Porche Vs Ferrari) several times where a variety of examples would have been more convincing. He assumes that taxing the 'very rich' (the owners of Ferraris) would be a meaningful solution to the underfunding of public services, whereas we all know that penal taxes on the rich don't actually raise that much money. He bizarrely assumes the number of waterside penthouses is fixed (i.e. it is not possible that more can be built if the demand is there). In all, the only solution is to re-read Fooled by Randomness, rather than invest your precious time on this.