So some people are more talented than average and some are less so, but nobody is orders of magnitude more talented than anybody else. This talent is distributed normally around some average level, with some standard deviation. It consists of N people, each with a certain level of talent (skill, intelligence, ability, and so on). Pluchino and co’s model is straightforward.
And this has significant implications for the way societies can optimize the returns they get for investments in everything from business to science. But the wealthiest individuals are not the most talented (although they must have a certain level of talent). Their simulations accurately reproduce the wealth distribution in the real world. The results are something of an eye-opener. The model allows the team to study the role of chance in this process. These guys have created a computer model of human talent and the way people use it to exploit opportunities in life. Today we get an answer thanks to the work of Alessandro Pluchino at the University of Catania in Italy and a couple of colleagues.
What factors, then, determine how individuals become wealthy? Could it be that chance plays a bigger role than anybody expected? And how can these factors, whatever they are, be exploited to make the world a better and fairer place?
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