Accidents Quote by Michael Lewis
“People really don't like to hear success explained away as luck — especially successful people. As they age, and succeed, people feel their success was somehow inevitable. They don't want to acknowledge the role played by accident in their lives. There is a reason for this: the world does not want to acknowledge it either. If you use better data, you can find better values; there are always market inefficiencies to exploit, and so on. But it has a broader and less practical message: don't be deceived by life's outcomes. Life's outcomes, while not entirely random, have a huge amount of luck baked into them. Above all, recognize that if you have had success, you have also had luck — and with luck comes obligation.”
About This Quote
Source Book: The Big Short, Michael Lewis, 2010
Success is often attributed to skill, but luck plays a large role, creating a moral duty to acknowledge and act responsibly.
In simple terms: Success includes luck, which creates responsibility.
Key Takeaway
Recognize luck and act responsibly.
Themes
responsibility
luck
success
ethics
Mood
reflective
thoughtful
Type
advice
philosophical
When to use this quote
- investment decisions
- career planning
- public policy
- personal reflection
Key Concepts
behavioral economics
moral philosophy
Questions to Reflect On
- How does acknowledging luck change your decisions?
- What responsibilities arise from fortunate outcomes?
A Different Perspective
Luck can be overemphasized, ignoring effort and skill.
![“Crucial decisions are made, today as thousands of years ago, in terms of the intuitive guesses and preferences of a few men in positions of authority...[it is] quite likely that the fate of entire societies may be sealed by a series of avoidable mistakes committed by their leaders.” quote by Michael Lewis](https://sms4smile.com/quotes/img-quotes/a59/michael-lewis-705_decision-making_crucial-decisions-are-made-today-as-thou_16888.jpg)
