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In practice, a good deal of the outcomes produced by the market reflect nothing more than luck - good or bad.
--
Chapter 1, Equality and Efficiency, p. 16

 

Robert Kuttner

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When one is already happy it is important not to lose the virtues which have produced happiness. When they are successful, many men and women forget prudence, moderation, and kindness - qualities which were instrumental in their success. They are arrogant or thoughtless; an excessive self-confidence prevents them from accomplishing difficult tasks, and they soon become unworthy of their good fortune. They are surprised when their luck changes from good to bad. The ancient practice of sacrifice to the gods in return for happiness was a wise one. Polycrates, Tyrant of Samos, threw his precious ring into the sea as a sacrifice, and there are several ways of throwing the ring of Polycrates into the sea. The simplest is to be modest.

 

Andre Maurois

 

You make your own luck, Gig. You know what makes a good loser? Practice.

 

Ernest Hemingway

 

Economists can take a good deal of credit for the stabilization policies which have been followed in most Western countries since 1945 with considerable success. It is easy to generate a euphoric and self-congratulatory mood when one compares the twenty years after the first World War, 1919-39, with the twenty years after the second, 1945-65. The first twenty years were a total failure; the second twenty years, at least as far as economic policy is concerned, have been a modest success. We have not had any great depression; we have not had any serious financial collapse; and on the whole we have had much higher rates of development in most parts of the world than we had in the 1920’s and 1930’s, even though there are some conspicuous failures. Whether the unprecedented rates of economic growth of the last twenty years, for instance in Japan and Western Europe, can be attributed to economics, or whether they represent a combination of good luck in political decision making with the expanding impact of the natural and biological sciences on the economy, is something we might argue. I am inclined to attribute a good deal to good luck and non-economic forces, but not all of it, and even if economics only contributed 10 percent, this would amount to a very handsome rate of return indeed, considering the very small amount of resources we have really put into economics.

 

Kenneth Boulding

 

Fleas dream of buying themselves a dog, and nobodies dream of escaping poverty: that, one magical day, good luck will suddenly rain down on them - will rain down in buckets. But good luck doesn't rain down, yesterday, today, tomorrow or ever. Good luck doesn't even fall in a fine drizzle, no matter how hard the nobodies summon it, even if their left hand is tickling, or if they begin the new day on their right foot, or start the new year with a change of brooms.

The nobodies: nobody's children, owners of nothing. The nobodies: the no-ones, the nobodied, running like rabbits, dying through life, screwed every which way.

 

Eduardo Galeano

 

Luck was a joke. Even good luck was just bad luck with its hair combed.

 

Stephen King