Why the ultra rich get rich, explained in two charts | Brian Klaas
April 5, 2024
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6:25Now PlayingWhy the ultra rich get rich, explained in two charts | Brian Klaas
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as posted by the channelBecome a Big Think member to unlock expert classes, premium print issues, exclusive events and moreWhy most billionaires aren’t geniuses and most geniuses aren’t billionaires, explained by political scientist Brian Klaas.
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Not all rich people are geniuses – most of them are just lucky.
Professor and author Brian Klass joins us to debunk a common misconception about wealth – that all those who have it are smarter than average. Klass uses probability to explain that though this is an easy assumption to make, it’s technically not correct.
He points to Elon Musk as a case study, noting that while Musk's skills have contributed to his achievements, his success also depends on his pre-existing resources and collaboration with others. In situations where Musk has worked individually (such as during his acquisition of Twitter), he has seen less success, and, ultimately, less profit.
The key takeaway here is that wealth is not directly correlated with wealth is not directly correlated with brain power. Thinking smarter and working harder does not always make you rich; most of the time, it’s just about being positioned at the luckiest spot on the bell curve.
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About Brian Klaas:
Brian Klaas grew up in Minnesota, earned his DPhil at Oxford, and is now a professor of global politics at University College London. He is a contributing writer for The Atlantic, host of the award-winning Power Corrupts podcast, and frequent guest on national television. Klaas has conducted field research across the globe and advised major politicians and organizations including NATO and the European Union. You can find him at BrianPKlaas.com and on Twitter @BrianKlaas.
His most recent book is FlukeChance, Chaos, and Why Everything We Do Matters available here ►
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