Chance favors the concentration of wealth, study shows; New model isolates the effects of chance in an investment-based economy
Thursday, July 21, 2011 - 18:30
in Psychology & Sociology
Most of our society's wealth is invested in businesses or other ventures that may or may not pan out. Thus, chance plays a role in where the wealth of a society will end up. But does chance favor the concentration of wealth in the hands of a few, or does it tend to level the playing field?