Accept Quote by Merton Miller
“I can't speak for them, of course, but I believe that most economists would accept the view that, while you sometimes can make a score by sheer luck, you can't do it constantly, unless you're willing to put the resources in.”
About This Quote
Source Interview: Financial Times, 1995
Success in economics requires consistent effort and resource investment, not just occasional luck.
In simple terms: Luck alone isn’t enough; sustained resources are needed.
Key Takeaway
Invest resources, don’t rely on luck.
Themes
economics
effort
resource allocation
Mood
analytical
realistic
Type
advice
insightful
When to use this quote
- career advancement
- investment decisions
- business planning
- research projects
Key Concepts
human capital
risk management
skill development
Questions to Reflect On
- How can you allocate resources to improve consistent performance?
- What habits reduce reliance on chance?
A Different Perspective
Luck can still play a role, but it’s unpredictable.
![“I always found it rather pathetic that as a photographer I would be dependent to such a large extent on sheer luck... So the moment I was offered [digital] tools to bend the shape of the image into my choices, and not those of lady luck, I was hooked.” quote by Pedro Meyer](https://sms4smile.com/quotes/img-quotes/9e8/pedro-meyer-46329_choices_i-always-found-it-rather-pathetic-that-a_2495839.jpg)
