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#meritocracy

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youtube.com/watch?v=NeFUqCrmPC

This caps it all for the storytelling about the lonely #entrepeneur or #artist who crawls out of her hole just by the strength of will and hard work, basically for the myth of our supposed #meritocracy. We already know that #HarryPotter is more a patchwork of preexisting children literature, wades in full #statusquo #individualism and #capitalism and is peppered with toxic #stereotypes. Now, we learn that the #JKR has never been poor, nor really disadvantaged.

Commerce Secretary #HowardLutnick has “divested” his control over his firm #CantorFitzgerald by naming his two 20 something year old nepo baby sons to run one of america’s larger investment banks (and possibly the world’s largest provider of banking services for criminals and rogue nuclear states, because Cantor manages assets for #Tether).

welcome to the #meritocracy.

* bloomberge: bloomberg.com/news/articles/20
* more lutnick: universeodon.com/@cryptadamist

#MAGA#DOGE#uspol
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* Musk seized control at Office of Personnel Management | General Services Administration
* key institutions that function as central nervous system of U.S. gov.

* laying groundwork for major tax cuts disproportionately benefiting corporations/oligarchs

“Musk is going to pay for his tax cut with your Social Security”

#USpol #Trump2 #GOP #fascism #authoritarianism #Project2025 #autocracy
#capitalism #corporations #billionaires #ElonMusk #libertarianism #oligarchy #meritocracy #plutocracy

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State capture: Unelected Billionaire Musk Seizes Control at Treasury Dept/Other Agencies
democracynow.org/2025/2/3/elon

* asserting control over U.S. bureaucracy/ sens. comp. systems despite clear authority
* highest-ranking career official at Treasury Dept. pushed out after refusing to hand over keys to entire U.S. gov't payment system
...

#USpol #Trump2 #GOP #fascism #authoritarianism #Project2025 #autocracy
#capitalism #corporations #billionaires #ElonMusk #libertarianism #oligarchy #meritocracy

Democracy Now! · Is Elon Musk Staging a Coup? Unelected Billionaire Seizes Control at Treasury Dept. & Other AgenciesPar Democracy Now!
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@grimalkina little story time.
When I was young, I thought meritocracy was real.

I was from a (very, very) poor family from a tiny village in the middle of French Alps, away from civilization (my dad, who was born in the village itself, didn't even had running water as a young child and electricity came when he was young adult). Still, I was among the best suited for school, and later successfully passed selective exams to French Grandes Ecoles.

What an amazing proof of meritocracy it was.

But of course it's not.

For one thing, I just love studying, and i loved school since teenage years, so the merit of doing what you like is meh, at best.

And also, as a young adult, I read a paper about how socio-demographic class are often preserved from grand parents to grand children even if parents have a vastly different class, especially when grand parents where of an upper class.
I didn't find the paper back, but it was rather simple: even if the parent was poor, he benefited during his childhood from the social security and well being that upper class parents bring : better education, better health care, better relationships, etc.
This security pass to their children. It's amplified if the grand children / grandparents keep relationships.

That was exactly my case. My grandfather went to the best French Grande Ecole in 1942. He was then director of several chemical factories and when I met him as my grandfather, he was still learning computers for fun, and most of my cousins where from upper class. My mother, the youngest of 6, prefered to move far away for the love of mountains and my kind father as a young adult, even if it means an hard and simple life.

So, surprise surprise, I was absolutely not the best fruit of meritocracy, just a child from an upper class family who happened to have poor parents, but still took the most of the security and privilèges of that environment.
And moreover, my parents where extremely sane and loving and caring. Really, that was unfair advantage, and I still thought it was my doing for a couple decade or so.

The paper is right: it's so easy to believe it's your doing. Externalities are always harder to account for, especially if they are not in your favor.

Suite du fil

2024 Billionaire Round-Up
inequality.org/article/2024-bi

* great year for U.S. billionaires
* combined wealth incr. $1 trillion over last 9 mo. to $6.72 trillion at end of 2024
* 15 U.S. billionaires w. $100B+ ea.
* combined wealth $2.4 trillion
* top 5 billionaires/individual wealth

Elon Musk $428B ($252.5B Sep 2024)
Jeff Bezos $235B
Larry Ellison $210B
Mark Zuckerberg $204B
Larry Page $158B

Inequality.org2024 Billionaire Round-UpIt was a great year for billionaires in America — although their ranks held steady, their wealth grew dramatically.