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>But capitalism is meritocracy. That breaks down when you have inherited wealth.
by JTbane 7y ago
>But capitalism is meritocracy.
That breaks down when you have inherited wealth.
- dragonwriter 7y agoIt breaks down, IMO, for any non-circular definition of merit any time you have unequal distribution of wealth, even if the unequal distribution itself is due to prior merit. Inheritance is a dramatic example, but not the whole problem. There's a reason I said “...at least, that's what the proponents of capitalism have always said.” I'm not actually endorsing the viewpoint as correct.