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The Rules of the Game
2018
The Review of Regional Studies
The success or failure of economic actors depends on a variety of factors, which I sort into three groups: attitudes and values, endowments, and rules. Of these three, we only fully control for factors in the first group. Factors in the other two groups are determined by luck, though through individual effort we may enhance them, particularly endowments such as talent or inherited resources. As individuals, most of us have no or very little influence on rules. Rules depend on power, and most
doi:10.52324/001c.7988
fatcat:nm2hbbp43fcjhi7uwjxvmhujr4