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Does Taylor Swift Deserve Her Billion Dollar Fortune?
Open to Debate
Market Success and Societal Background
Market success in winner-takes-all markets is influenced by luck, which plays a significant role in determining who dominates. This contradicts the belief in personal responsibility and meritocracy. Additionally, the societal background structure, including infrastructure and technologies enabled by previous generations, heavily influences individual achievement. Political theorist Tom Molasson estimates up to 99.9% of billionaires' income is due to this societal structure, highlighting the importance of external factors in success.
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