Era Of Wealth Destroyers

[Guardian] The findings of the psychologist Daniel Kahneman, winner of a Nobel economics prize, are devastating to the beliefs that financial high-fliers entertain about themselves. He discovered that their apparent success is a cognitive illusion. For example, he studied the results achieved by 25 wealth advisers across eight years. He found that the consistency of their performance was zero. "The results resembled what you would expect from a dice-rolling contest, not a game of skill." Those who received the biggest bonuses had simply got lucky.

Monbiot describes a devastatingly accurate protrayal of a class of people who achieved their wealth based on class, familial connections or dumb luck and have rewarded themselves riches far beyond their skills or their actual contributions.

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