211 - Understanding inflation through the man behind the FED in America
The David McWilliams Podcast
00:00
The Meritocracy
The rise of the meritocracy. The book from the 19 fifties, was written by a british labor politician called michael young after the second world war. These people got to the top because they worked hard for it and didn't see that they were a new elite. And this leads to group think tas. It's this whole idea of groupthink tas. So there's no fresh thinking that comes into this.
Play episode from 39:29
Transcript
