From The New York Times:
Through most of the 19th and 20th centuries, the Protestant
Establishment sat atop the American power structure. A relatively small
network of white Protestant men dominated the universities, the world of
finance, the local country clubs and even high government service.
Over the past half–century, a more diverse and meritocratic elite has
replaced the Protestant Establishment. People are more likely to rise on
the basis of grades, test scores, effort and performance.
Yet, as this meritocratic elite has taken over institutions, trust in
them has plummeted. It’s not even clear that the brainy elite is doing a
better job of running them than the old boys’ network. Would we say
that Wall Street is working better now than it did 60 years ago? Or
government? The system is more just, but the outcomes are mixed. The
meritocracy has not fulfilled its promise....
Today’s elite is more talented and open but lacks a self-conscious
leadership code. The language of meritocracy (how to succeed) has
eclipsed the language of morality (how to be virtuous). Wall Street
firms, for example, now hire on the basis of youth and brains, not
experience and character. Most of their problems can be traced to this. (Read entire post.)
Share
1 comment:
Immigrants who came to this country from the mid to late 1800's through the 1920's exercised the same tactics as their predecessors to become industrialists and surpassed them through their genius in financial manipulation and corruption.
Post a Comment