Meritocracy

Meritocracy (merit, from Latinmereō, and -cracy, from Ancient Greek κράτος kratos ‘strength, power’) is a political system in which economic goods and/or political power are vested in individual people based on talent, effort, and achievement, rather than wealth or social class. Advancement in such a system is based on performance, as measured through examination or demonstrated achievement. Although the concept of meritocracy has existed for centuries, the term itself was coined in 1958 by the sociologist Michael Dunlop Young in his dystopian political and satirical book The Rise of the Meritocracy.

Read more at Wikipedia

Merit

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