Also, about this: Have people considered that "credentials and connections" are actually a valuable signaling mechanism? Connections (in the broadest sense of

Also, about this: Have people considered that "credentials and connections" are actually a valuable signaling mechanism? Connections (in the broadest sense of the word) indicate that a candidate is able to form strong personal relationships. They don't care if you have strong personal relationships. They don't care how many close friends you have, if all of them are plebs. They only care if you have ties to the right kind of people. Credentials and connections are a valuable signaling mechanism because having them most certainly does create value--knowing powerful and wealthy people is how you close the biggest of deals.