You are correct that the defining selection criteria is wealth. However, white people are disproportionately wealthy in the United States, so indirectly you wil

You are correct that the defining selection criteria is wealth. However, white people are disproportionately wealthy in the United States, so indirectly you will also have a racial bias in your outcomes as well. When winning leads to more winning - groups that have won disproportionately in the past (white people) will continue to win more and more unless we find a way to counterbalance. This is why almost every sport includes some kind of catch-up model for their franchises (better draft picks for performing teams, salary caps) to encourage balance and competitiveness. We accept this in sports and know that it helps, but we don't want to believe it is needed in our economy, which is the most important competitive sport played in the world.