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I'm starting to think the economic problems we now face are related to our society are related to it becomming a meritocracy ...

To understand my thinking ask yourself this question "Would the decisions made by the people in power of most companies be different if they were running the companies to pass them onto their children, rather than running these companies to receive the rewards of a lifetime spent 'gaming' the system?"

The education system is one of the core pillars of the meritocracy and the higher education bubble is the consequence of success being determined by going to the right school and getting the right degree.