Judge Richard Posner on Luck, Wealth and Taxation

First of all, how come nobody told me that Richard Posner and Gary Becker had their own blog?

I have never referenced Becker in this blog, but he is a big hitter economist of the Chicago school. But I have referenced Richard Posner, judge and professor, and even though I have disagreed with him, I remain in awe of his erudition and productivity. See my entries on Posner here, here and here.

Here is a typically rational take on the role of luck in wealth creation by Professor Posner. Enjoy.