Is the world economy meritocratic?

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In summary, the conversation discusses the idea of meritocracy in the economy and whether it promotes those who deserve wealth and penalizes those who do not. The conversation also raises questions about the principles and standards used to determine who deserves or does not deserve something. Different political ideologies may have differing opinions on this matter. The conversation concludes by stating that the current world economy tends to favor individuals who are born into wealthy families.
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Grands
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As in the title, I'm curious to know if in you opinion our economy work in a meritocratic way, promoting people that deserve wealthy and penalize who doesn't deserve nothing ?

Thanks.
 
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  • #2
Deserve something/nothing based on what principles? What standards do you set for who deserves or not something? You will get 5 answers for every 3 people you ask. At least three depending on whether you are Liberal, Conservative, Libertarian. Then it breaks down further...
 
  • #3
The current world economy tends to reward those who were clever enough to choose rich parents.
 
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Thread closed. There is no "our economy" -- each country has its own economic policy.
 

1. Is the world economy truly meritocratic?

This is a highly debated question with no clear answer. Some argue that the world economy is meritocratic because individuals who work hard and possess valuable skills are rewarded with higher salaries and job opportunities. Others argue that factors such as race, gender, and socio-economic background play a significant role in determining success in the economy, making it less meritocratic.

2. How does meritocracy impact income inequality?

Meritocracy can both contribute to and alleviate income inequality. On one hand, it can create a sense of fairness and motivation for individuals to work hard and achieve success. On the other hand, it can also perpetuate the cycle of success for those who already have advantages, leading to a wider income gap between the wealthy and the underprivileged.

3. Are there any flaws in the meritocratic system?

Yes, there are several flaws in the meritocratic system. One major flaw is that it assumes everyone starts off on an equal playing field, which is not always the case. Additionally, meritocracy often prioritizes certain skills and talents over others, leading to a lack of diversity and opportunities for individuals with different abilities and backgrounds.

4. What role do education and qualifications play in a meritocratic economy?

Education and qualifications are often seen as key factors in a meritocratic economy. Those with higher levels of education and more qualifications are often seen as more deserving of success and are more likely to be rewarded with higher salaries and job opportunities.

5. Can a truly meritocratic system ever be achieved?

This is a difficult question to answer definitively. While some may argue that a truly meritocratic system is impossible due to inherent biases and inequalities, others believe that it is achievable through policies and initiatives that promote equal opportunities and support for underprivileged individuals. Ultimately, the pursuit of a truly meritocratic system remains an ongoing challenge for societies around the world.

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