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meritocracy (n.)

coined 1958 by British sociologist Michael Young (1915-2002) and used in title of his book, "The Rise of the Meritocracy"; from merit (n.) + -cracy. Related: Meritocratic.

[Young's book] imagined an elite that got its position not from ancestry, but from test scores and effort. For him, meritocracy was a negative term; his spoof was a warning about the negative consequences of assigning social status based on formal educational qualifications, and showed how excluding from leadership anyone who couldn't jump through the educational hoops would create a new form of discrimination. And that's exactly what has happened. [Lani Guinier, interview, New York Times, Feb. 7, 2015]

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Definitions of meritocracy from WordNet

meritocracy (n.)
a form of social system in which power goes to those with superior intellects;
meritocracy (n.)
the belief that rulers should be chosen for their superior abilities and not because of their wealth or birth;
From wordnet.princeton.edu

Dictionary entries near meritocracy

merism

meristem

merit

merited

meritless

meritocracy

meritorious

merkin

merle

merlin

Merlin