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Politics : View from the Center and Left
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To: JohnM who wrote (10524)2/1/2006 4:42:21 PM
From: TimF  Read Replies (1) of 541787
 
I didn't say that we where anywhere close to a pure meritocracy but we are far more of one than the vast majority of countries or economies in history. The wealthy may want to "take care of there own", but generally the more that they rely on such cozy relationships and inherited wealth, the smaller their wealth becomes when compared to the overall economy.

The Chosen, a study of admission policies at Harvard, Yale, and Princeton from the late 19th century to the late 70s of the 20th century.

Than the study only deals with admission to three schools for a particular period that ended when I was a child. It doesn't deal with the larger issue. The meritocracy comment was about our economy as a whole, and how particularly large amounts of wealth are created and controlled. Maybe you would get a spot in Harvard in 1970 because of who your dad was. Maybe you can even get a spot today. I doubt it but maybe you will have an easier time actually getting the degree not just getting in. But a degree from Harvard, while certainly a major asset, won't make you a billionaire. Bill Gates wasn't a Harvard, Yale or Princeton grad. Neither was Sam Walton. Many of the graduates from Harvard aren't even millionaires despite the lowered level of difficulty of reaching that level because of inflation and the steep rise in the value of houses in certain areas.

Tim
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