Back

The article discusses the rise of a new elite class, which has been formed as a result of the marriage between meritocracy and capitalism. This elite sees itself as the embodiment of meritocracy, believing that their success is a result of their own skills, intelligence, and hard work. However, the article argues that this new elite is not as meritocratic as it appears, as it is supported by a system that favors the wealthy and well-connected.

The article examines the ways in which the new elite has obtained and maintained its power and privileges. One of the key factors is the marriage of merit and money. The wealthy have found ways to buy educational advantages for their children, while the old elite has embraced the concept of meritocracy, placing more emphasis on academic credentials. This has led to social closure, where elite colleges and universities are dominated by students from the top 1% of the population, while those from lower income backgrounds struggle to gain access. This contradicts the original purpose of meritocracy, which was to open up opportunities and promote social mobility.

The article also explores the industries from which the new elite has emerged, such as finance, law, corporate engineering, and technology. These industries place a high value on intelligence and raw brainpower. The new elite is also more inclined to socialize at conferences and events that focus on ideas and intellectual discussions. They read idea-led magazines and books, and are associated with leading think tanks and institutions. This emphasis on intellectual pursuits and knowledge further reinforces their sense of superiority and meritocratic spirit.

Furthermore, the article looks at the transformation of British public schools, which were previously seen as elitist and out of touch. However, in recent decades, these schools have reinvented themselves as meritocratic institutions, producing a disproportionate number of graduates who go on to top universities and secure elite jobs. The public schools have achieved this transformation through a combination of increased fees, hiring the best teachers, and creating an environment that fosters success. This has created a system where the children of the elite have even greater advantages and opportunities for success.

The article also highlights the role of assortative mating in perpetuating inequality. People tend to marry others who are similar to themselves in terms of education, social class, and income. This leads to a concentration of talent, wealth, and privilege within a small segment of society. The children of these unions then benefit from the resources and advantages that their parents can provide for them, further reinforcing the cycle of privilege.

The article argues that the merger of merit and money has created a bastard meritocracy, which maintains the appearance of meritocracy but lacks the mechanisms of social mobility that make it inclusive and dynamic. The system is not truly meritocratic, as it disproportionately benefits those who are already privileged and reinforces existing inequalities. This has led to a growing divide between the cognitive elite and the rest of society, which is becoming increasingly disenchanted with the promises of meritocracy and the perceived unfairness of the system.

The widening gap between the meritocratic elite and the rest of society has significant social and political implications. It erodes trust in democratic institutions and increases the potential for populist movements and social unrest. It also perpetuates social and economic inequalities, making it more difficult for those from disadvantaged backgrounds to escape poverty and improve their circumstances. This can have long-term consequences for societal well-being and stability.

Words: 582