Irresistable Quotes

Richard Freeman, an economist at Harvard, argued in an email to the Times that a merit based system can quickly convert into an entrenched hierarchy as a result of the accumulation of excessive wealth and income:

The greatest danger is that high inequality creates a society in which wealthy ‘crony capitalists’ dominate corporate and government policies and use their wealth to subvert market competition and to corrupt democracy in order to maintain their position atop the income hierarchy