Meritocracy, economic turmoil, and the broken promises of the West | Daniel Markovits FULL INTERVIEW

Video Description

Daniel Markovits explains how the myth of meritocracy has caused unrest and turmoil in our politics, economics, and society at large. Does 'meritocracy' only create problems in contemporary Western society? With a free trial, you can explore more talks on the problems at the heart of our economic systems at https://iai.tv/video/neoliberalism-a-soviet-nightmare?utm_source=YouTube&utm_medium=description The modern world is based on meritocracy - the idea that the harder you work, the more you refine your talents, and the force of your will should determine your place in life. But what if meritocracy, far from being just to both individuals and wider society, corrupts us and undermines the very culture it seeks to serve? Daniel Markovits shows how meritocracy has been undermined from within, not by corrupt people but by a system that is blind to the reasons for success and the power of inheritance of all kinds. If we are to find a better path, we must abandon the myth of meritocracy and understand what in life is truly valuable. #economics #politics #inequality Daniel Markovits is an American legal scholar, best known for his work on law and behavioural economics, contract law, distributive justice, and market regulation. His best-selling book, "The Meritocracy Trap: How America's Foundational Myth Feeds Inequality, Dismantles the Middle Class, and Devours the Elite", has sparked a significant discussion about the problems inherent in meritocratic societies. The Institute of Art and Ideas features videos and articles from cutting edge thinkers discussing the ideas that are shaping the world, from metaphysics to string theory, technology to democracy, aesthetics to genetics. Subscribe today! https://iai.tv/subscribe?utm_source=YouTube&utm_medium=description&utm_campaign=https://iai.tv/video/the-lie-of-meritocracy-with-daniel-markovits 00:00 Introduction 00:16 Is it hypocritical to critique meritocracy? 01:51 What's wrong with the idea that hard work and merit get rewarded? 05:05 Why do some people claim that we don't live in a 'real' meritocracy? 09:52 Does meritocracy always lead to inequality of outcome? 12:48 If everyone's quality of life is improving, why worry about inequality? 16:20 What would happen if we dismantled the ideology behind meritocracy? 20:08 Is meritocracy our best option? 25:14 Explain your next project, a criticism of growth For debates and talks: https://iai.tv For articles: https://iai.tv/articles For courses: https://iai.tv/iai-academy/courses