The Luck of Our Lives: This World is Not a Meritocracy
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Michael Lewis reminds Princeton graduates, and all of us, about that indispensable ingredient to success: luck
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Recently, best-selling author Michael Lewis delivered the commencement speech at the Princeton University commencement ceremonies. The theme of his oratory was that the graduates he was speaking to are part of a “lucky few” and that they shouldn’t let it go their heads. Mr. Lewis went on to explain how he got a job at Salomon Brothers by a chance dinner with an executive at Salomon. This resulted in his first book, “Liar’s Poker,” which sold a million copies. He stated that luck was a major part of how he got there. He pointed out that success is always rationalized and that successful people feel their success was somehow inevitable. He went on to say that “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. You owe a debt, and not just to your Gods. You owe a debt to the unlucky.”
Of course, this caused somewhat of a ruckus amongst many, including the newly minted Princeton grads that the gods have bestowed upon the world.
Graduation speeches can be, for those giving them, one or more of the following things (amongst others): a tool of self-promotion, a chance at sticking it to those in the speaker’s past who never thought the speaker would find his way out of bed let alone be worthy enough to give a graduation speech, or an informal and very large group therapy session where the speaker tries to forensically explain his/her own life-path taken (or not) and then shoe-horn it into advice for the young chargers about to hit the beaches of the real world. It would seem that Mr. Lewis was probably doing much of the latter, and whether most successful people or the young Princeton Tigers want to accept it, he was right.
Above: TYKHE, the Greek goddess of fortune, chance, providence and fate
The harsh truth of the matter is, this world is not a meritocracy. There are many examples through history of those less-credentialed individuals who, whether by the virtue of strong elbows (a corporate executive must) or just good fortune (luck), have moved ahead of those who are more worthy, based on their merits (if you doubt such, look at our elected politicians, and those who do not hold office).
This is not to say that one should sit back and just ride the wave of luck. Anyone can be handed a great hand via good luck and not use it. And even when opportunities seemingly fall into one’s lap, such can be misplayed and squandered. It requires a talent to both appreciate the good luck one has and use it to one’s advantage. But without luck and the opportunities it creates, all the talent in the world means nothing.
And Mr. Lewis’ digression that luck, and a consequent feeling of entitlement, that allegedly exists with Wall Street CEOs only fits the inflammatory Liberal narrative these days but is a different subject and one best settled between such CEOs and the shareholders they serve.
Still, Mr. Lewis put it well in spinning the biblical and Kennedyesque theme that “to whom much is given, much is expected.” The ball is now in the court of the Class of 2012…….along with (hopefully) some luck.
-I.M.Windee
