Accumulative Advantage: How It Helps People Successful in Career and Life.
Accumulative advantage, also known as the “Matthew Effect,” was first introduced the term in a 1968 article by Robert Merton, a sociologist. It refers to the phenomenon where small initial differences in success or wealth tend to increase over time, leading to larger and larger disparities. This can happen in many different areas, such as wealth, education, and social networks. One such definition is given by New York Times article:
“This means that if one object happens to be slightly more popular than another at just
the right point, it will tend to become more popular still. As a result, even tiny, random
fluctuations can blow up, generating potentially enormous long-run differences among even
indistinguishable competitors — a phenomenon that is similar in some ways to the famous
“butterfly effect” from chaos theory.”
The idea is that those who have more resources or opportunities at the start will be able to accumulate even more, while those with fewer resources will fall behind. This can lead to a self-reinforcing cycle of inequality.
How Accumulative advantage helps People Successful In Career And Life
Accumulative advantage can help people become successful in their careers and lives by providing them with more resources and opportunities than others. For example, if an individual has a good education and a strong network of connections, they may have an easier time finding a well-paying job or getting funding for a business venture. Additionally, having more resources can also allow a person to take greater risks, which can lead to even more success.
- Increased access to resources: People with accumulative advantage often have access to more resources such as money, education, and connections, which can help them become more successful in their careers and lives.
- Greater risk-taking abilities: Having more resources can also allow people with accumulative advantages to take greater risks, which can lead to new opportunities and greater success.
- Ability to leverage past success: Success in one area can lead to more success in other areas. For example, a successful businessperson may be able to leverage their reputation and contacts to enter new markets or industries.
- Positive feedback loops: Accumulative advantage can create positive feedback loops where initial success leads to even more success, further reinforcing the initial advantage.
- Ability to invest in personal growth: People with accumulative advantage may have the ability to invest in personal growth and development, such as through education or training, which can help them become more successful in their careers and lives.
However, it’s important to note that the accumulative advantage is not just a one-way street. While it can help certain individuals or groups become more successful, it can also reinforce and exacerbate existing inequalities. It is important to recognize that not everyone has the same opportunities and resources and to work towards creating a more equitable society.
Additionally, it’s worth noting that success is a complex and multi-faceted concept and that success in one area of life does not guarantee success in others. For example, having a high-paying job or a lot of wealth doesn’t necessarily lead to happiness or fulfillment. And even if someone has the benefit of accumulative advantage, that doesn’t mean they will be successful in their career or life, it only increases their chances.
It is important to note that accumulative advantage does not only happen in career and financial success but can also happen in other aspects of life such as social networks and recognition, those with larger networks and more recognition will have access to more opportunities and can increase their networks and recognition even more.