The Gray Area with Sean Illing When meritocracy wins, everybody loses
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Sep 23, 2019 Daniel Markovits, a Yale Law School professor and author of "The Meritocracy Trap," critiques the very foundation of meritocracy. He reveals how it has morphed into a tool for wealth transfer that diminishes opportunities for all. The discussion touches on rising economic inequality, the changing landscape of wealth, and the college admissions scandal as a symptom of systemic flaws. Markovits advocates for redefining meritocracy to prioritize social utility, highlighting its implications on personal fulfillment and societal equity.
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The Shift in Inequality
- Modern inequality is less about poverty and more about exploding wealth at the top.
- High-end inequality creates social instability, as seen with middle-class anger and elite overreach.
The Superordinate Working Class
- Today's rich work harder than ever, earning their income through labor, unlike past leisure classes.
- This shift creates a sense of entitlement, making traditional inequality arguments less effective.
Wall Street's Self-Perception
- A Wall Street email exemplified the self-perception of the rich as hardworking earners, not privileged elites.
- Diminished low-end inequality weakens the humanitarian argument for redistribution.
