Beliefs about free markets and success in life

This research explores how individual economic beliefs relate to perceptions of success. The authors hypothesize that pro–free market individuals attribute success more to hard work than to luck or connections. The authors use Wave 7 of the World Values Survey and analyze both the full sample and the US sample. Results in both cases support the hypothesis. In addition, religious and spiritual beliefs correlate positively with believing that success is due to hard work. On the other hand, trust in the courts correlate negatively. For the US sample, income is positively correlated with believing that success is due to hard work, but education is not. Several robustness checks – including hierarchical models, placebo tests and sample restrictions – confirm the stability of the results.