recentpopularlog in

robertogreco : taxexemption   1

Meritocracy Harms Everyone - The Atlantic
“Escaping the meritocracy trap will not be easy. Elites naturally resist policies that threaten to undermine their advantages. But it is simply not possible to get rich off your own human capital without exploiting yourself and impoverishing your inner life, and meritocrats who hope to have their cake and eat it too deceive themselves. Building a society in which a good education and good jobs are available to a broader swath of people—so that reaching the very highest rungs of the ladder is simply less important—is the only way to ease the strains that now drive the elite to cling to their status.

How can that be done? For one thing, education—whose benefits are concentrated in the extravagantly trained children of rich parents—must become open and inclusive. Private schools and universities should lose their tax-exempt status unless at least half of their students come from families in the bottom two-thirds of the income distribution. And public subsidies should encourage schools to meet this requirement by expanding enrollment.

A parallel policy agenda must reform work, by favoring goods and services produced by workers who do not have elaborate training or fancy degrees. For example, the health-care system should emphasize public health, preventive care, and other measures that can be overseen primarily by nurse practitioners, rather than high-tech treatments that require specialist doctors. The legal system should deploy “legal technicians”—not all of whom would need to have a J.D.—to manage routine matters, such as real-estate transactions, simple wills, and even uncontested divorces. In finance, regulations that limit exotic financial engineering and favor small local and regional banks can shift jobs to mid-skilled workers. And management should embrace practices that distribute control beyond the C-suite, to empower everyone else in the firm.

The main obstacle to overcoming meritocratic inequality is not technical but political. Today’s conditions induce discontent and widespread pessimism, verging on despair. In his book Oligarchy, the political scientist Jeffrey A. Winters surveys eras in human history from the classical period to the 20th century, and documents what becomes of societies that concentrate income and wealth in a narrow elite. In almost every instance, the dismantling of such inequality has been accompanied by societal collapse, such as military defeat (as in the Roman empire) or revolution (as in France and Russia).

Nevertheless, there are grounds for hope. History does present one clear-cut case of an orderly recovery from concentrated inequality: In the 1920s and ’30s, the U.S. answered the Great Depression by adopting the New Deal framework that would eventually build the mid-century middle class. Crucially, government redistribution was not the primary engine of this process. The broadly shared prosperity that this regime established came, mostly, from an economy and a labor market that promoted economic equality over hierarchy—by dramatically expanding access to education, as under the GI Bill, and then placing mid-skilled, middle-class workers at the center of production.

An updated version of these arrangements remains available today; a renewed expansion of education and a renewed emphasis on middle-class jobs can reinforce each other. The elite can reclaim its leisure in exchange for a reduction of income and status that it can easily afford. At the same time, the middle class can regain its income and status and reclaim the center of American life.

Rebuilding a democratic economic order will be difficult. But the benefits that economic democracy brings—to everyone—justify the effort. And the violent collapse that will likely follow from doing nothing leaves us with no good alternative but to try.“
meritocracy  danielmarkovits  neoliberalism  capitalism  society  2019  competition  policy  privateschools  taxexemption  philanthropicindustrialcomplex  inequality  redistribution  governance  taxation  hierarchy  oligarchy  parenting  anxiety 
7 weeks ago by robertogreco

Copy this bookmark:





to read