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“American meritocracy has thus become precisely what it was invented to combat,” Markovits concluded, “a mechanism for the dynastic transmission of wealth and privilege across generations. Meritocracy now constitutes a modern-day aristocracy.”
From TIME: "HOW BABY BOOMERS BROKE AMERICA", an excerpt from Steven Brill's "TAILSPIN".
http://time.com/5280446/baby-boomer-generation-america-steve-brill/
