The Gist
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How Luck Shapes our Lives
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How Luck Shapes our Lives

Today we're looking at a how luck shapes our lives. Are our successes or failures determined by our own abilities and hard work, or are they just a matter of luck? It's a question that likely crosses all our minds from time to time.

Humans have long been taken with the idea of fortune, believing that mysterious powers had a hand in how things turned out for us. But over time, we have come to believe in more individual control over our futures. Ironically, we have also delved deeper into the idea of randomness, with scientists, economists and philosophers looking at how chance affects our world.

Physicist and science educator Derek Muller, has explored luck on his Veritassium channel. He suggests that most of us overestimate the contribution we make to things. This mental fallicy is called 'egocentric bias' or as Muller says 'most people think they do most of the work'. For example, each member of a project team might think they have shouldered most of the workload. Or spouses might each feel that they do the greater share of household chores.

In some cases of course, one person may indeed be doing an unfair share. Yet most often, our perception is flawed because we are most closely aware of the work we put into things, and less aware of how much work others are doing.

Applied more broadly, this fallacy means that we may overstate our role in our own successes. And also exaggerate our shortcomings when we fail. If we look at the numerous external factors involved - other people, access to resources and timing, - we realise that luck plays a significant role in what happens in life. Sometimes it comes down to being in the right place at the right time.

So does that mean things are totally out of our control and that our fate is at the mercy of pure chance? Certainly not. Success and failure are a complex combination of personal responsibility and external factors including a bit of luck. So what are we to do?

Muller proposes that believing in luck is a double edged sword. If we believe too much in luck, we may hold ourselves back from even trying to work towards our biggest ambitions, thus making us dispondent. On the other hand, if we believe exclusively in our own abilities without acknowledging the role of luck, we risk becoming arrogant or ungrateful. He proposes that the best way forward is to embrace this paradox and find a balance.

I think the saying 'luck favours the prepared' captures this paradox beautifully. It means that we can reach for our goals, develop our capabilities, have a positive mindset and remain resilient through challenges. We can feel good about doing everything necessary, while accepting that the final outcome outcome may be out of our hands, subject to luck and statistics. The philosophers at The School of Life say that this appears to hold true in two areas of life that we tend to value most - work and love.

For example, in competitive situations like getting coveted jobs or entering the 'best' schools, numerous highly qualified candidates are going after a few spots. In this situation the final arbitrar may be luck. Simply based on statistics, most people will not get selected. Further, many talented people, will never get the opportunity to test their abilities due to major barriers like poverty, political unrest, discrimination or illness.

When it comes to love, if someone wants to be in a committed relationship and just waits until the right partner crosses their path they may be waiting a long time. It takes some effort, vulnerability and openness to meeting various people or risking heartbreak. Even if two people do meet by chance, it will still take willingness and compromise on both sides to turn that chance meeting into a fruitful partnership.

Whether its a dream job, a relationship or something else you've been aiming for, initiative and effort go a long way. Beyond that, catching a few lucky breaks certainly doesn't hurt! When we acknowledge the role that both individual responsibility and luck play in success or failure, we become more humble and empathetic in how we deal with ourselves and others. And we can navigate life's inevitable disappointments and triumphs more gracefully.

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