The oil tycoon J. Paul Getty was rumoured to have said that his three rules for how to become rich were: Rise early. Work hard. Strike oil. It’s one of those eminently quotable remarks because it captures something we all know to be true, that luck and chance have as much to do with success as anything else.

Yet we don’t value people for their luck. We don’t exalt those who win the lottery or walk away from a roulette table flush with cash. Instead, we praise talent, skill, and dedication. And that creates tension, because although luck plays a big role in........

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