Here is a short piece I wrote recently for a Zócalo Public Square discussion on the question "Is Rising Inequality Slowly Poisoning Our Democracy?" The discussion included experts from the Brennan Center for Justice, Cato Institute, Economic Policy Institute, and Georgetown University Center on Poverty and Inequality.

When Michael Young coined the term “meritocracy” half a century ago, he meant it to be an insult, not an ideal. In his view, a society where only the best and brightest can advance would soon become a nightmare. Young predicted that democracy would self-destruct as the talented took power and the inferior accepted their deserved place at the bottom.

Of course, the world we live in today is still no meritocracy. If most Americans are expected to go it alone, without the help of government or unions, elites continue to block competitors and manipulate the rules—as Wall Street did in spectacular fashion in the lead-up to the 2008 financial crisis.