One of the most famous modern behavioral economists, Robert Frank, answers the question of how important luck is to economic success, and shows why the rich underestimate the role of luck in success and why this is harmful for everyone, including the rich themselves. He describes how, in a world increasingly dominated by winner-take-all markets, odds and minor differences at the start often result in significant income gaps; how false beliefs about luck persist despite compelling evidence against them; and how myths about success and luck shape harmful personal and political decisions. The book is addressed to sociologists, economists, social psychologists, behavioral economists, and a wide range of readers.