Daniel Markovits Explains How Meritocracy Causes Inequality: Author of The Meritocracy Trap

Daniel Markovits explains how meritocracy causes inequality in our society and is bad for both the middle class and the rich. Yale Professor Daniel Markovits and Jason Hartman discuss how meritocracy has led to a larger wealth gap between the middle class and the rich and what can be done to change the system.
0:00 Introducing Daniel Markovits
5:46 Marriage has become a rich and well-educated persons practice
6:48 Rich spend much more on education. Consumption inequality has grown fastest in education
8:29 Assortive mating: rich and educated people marry each other
9:04 Neighborhood sorting index: The odds the rich have rich neighbors have gone way up
11:47 Today a cardiologist makes 10 times more than a nurse
12:13 Entire commercial and cultural ecosystems cater to the rich: Taco Bell and The French Laundry have no ingredients in common
15:38 Rich are training their kids to beat the SAT to get into elite colleges
16:26 Is college a rip-off?
20:34 Meritocracy has become the new aristocracy
24:07 We need a political movement to change the system
25:28 Social Security tax disincentivizes the hiring of middle-class workers

Learn More: https://www.jasonhartman.com/

Listen to the podcast: https://www.jasonhartman.com/podcast/

Have questions or topics you want me to do a video on? Let us know in the comments below. If you love real estate investing, SUBSCRIBE!