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In this gripping ethnography, Jeffrey J. Sallaz goes behind the scenes of the global casino industry to investigate the radically different worlds of work and leisure he found in identically designed casinos in the United States and South Africa. Seamlessly weaving political and economic history with his own personal experience, Sallaz provides a riveting account of two years spent working among both countries' casino dealers, pit bosses, and politicians. While the popular imagination sees the Nevada casino as a hedonistic world of consumption, The Labor of Luck shows that the "Vegas experience" is made possible only through a variety of systems regulating labor, capital, and consumers, and that because of these complex dynamics, the Vegas casino cannot be seamlessly picked up and replicated elsewhere. Sallaz's fresh and path-breaking approach reveals how neo-liberal versus post-colonial forms of governance produce divergent worlds at the tables, and how politics, profits, and pleasure have come together to shape everyday life in the new economy.
My reason for writing this book was to have something to do after I got fired from C.W. Post. It was one in a long line of failed jobs over the years. The theme of luck grew out of the fact that through all the job losses there was Millie, my wife, and how having her in my life was a stroke of luck. All the things that happen in your life, good and bad, have a tinge of luck attached to them. By putting things into perspective I was able to cope with what was going on in my life and make peace with it. Ultimately this book is about luck; what it is and how it affects the way one handles life. I was able pour my feelings out and express what I was going through each and every day I was out of work. Writing is a good way to reflect on your life and to examine what role you have in how your life is going. I hope you find it funny as well as poignant and maybe you'll find some good luck in your life after reading it.
How important is luck in determining labor market outcomes? We address this question using a new dataset of all international test cricketers who debuted between 1950 and 1985. We present evidence that a player’s debut performance is strongly affected by an exogenous source of variation: whether the debut series is played at home or abroad. This allows us to identify the role of luck - factors unrelated to ability - in shaping future career outcomes. We find that players lucky enough to debut at home perform significantly better on debut. Moreover, debut performance has a large and persistent impact on long run career outcomes. We also make headway in empirically distinguishing between competing explanations for why exogenous initial conditions exercise a persistent impact on career performance
Featuring survey articles by leading economists working on growth theory, this two-volume set covers theories of economic growth, the empirics of economic growth, and growth policies and mechanisms. It also covers technology, trade and geography, and growth and socio-economic development.
From New York Times bestselling author and economics columnist Robert Frank, a compelling book that explains why the rich underestimate the importance of luck in their success, why that hurts everyone, and what we can do about it How important is luck in economic success? No question more reliably divides conservatives from liberals. As conservatives correctly observe, people who amass great fortunes are almost always talented and hardworking. But liberals are also correct to note that countless others have those same qualities yet never earn much. In recent years, social scientists have discovered that chance plays a much larger role in important life outcomes than most people imagine. In Success and Luck, bestselling author and New York Times economics columnist Robert Frank explores the surprising implications of those findings to show why the rich underestimate the importance of luck in success—and why that hurts everyone, even the wealthy. Frank describes how, in a world increasingly dominated by winner-take-all markets, chance opportunities and trivial initial advantages often translate into much larger ones—and enormous income differences—over time; how false beliefs about luck persist, despite compelling evidence against them; and how myths about personal success and luck shape individual and political choices in harmful ways. But, Frank argues, we could decrease the inequality driven by sheer luck by adopting simple, unintrusive policies that would free up trillions of dollars each year—more than enough to fix our crumbling infrastructure, expand healthcare coverage, fight global warming, and reduce poverty, all without requiring painful sacrifices from anyone. If this sounds implausible, you'll be surprised to discover that the solution requires only a few, noncontroversial steps. Compellingly readable, Success and Luck shows how a more accurate understanding of the role of chance in life could lead to better, richer, and fairer economies and societies.
The Beverly Hillbillies includes the portrayal of rich versus poor, the American dream, wealth, and social mobility in popular culture. The Hillbillies was a phenomenon of post-World War II America, the second wave after the 1950s, the dustbelt Depression meets the promise of opportunity achieved through luck. Luck counts in liberal society. It is, said Machiavelli, “the arbiter of half of what we do.” But is success based on luck really the American dream? And who is the bigger success story—the Hillbillies or those who have earned their wealth? Whom do we want to be or be like? Everyone wants to win the lottery, but is everyone willing to do what it takes to achieve financial independence without winning the lottery? Does winning the lottery bring social status or can it only be achieved by labor? In sum, Paul Henning’s brilliant comedy series The Beverly Hillbillies is replete with political ideas and has come to occupy a special place in popular culture as a classic television icon because of its deeper meaning and relationship to how we think about wealth, status, social mobility and the American dream.