June 29, 2021

Daniel Markovits on The Meritocracy Trap

Starting in the 1960s, computers powered by silicon chips and, later, the internet, dramatically reshaped the geography of the US economy. The newest general purpose technology that builds on these innovations is artificial intelligence. With this context in mind, Daniel Markovits and Nicolas Wittstock discuss Daniel’s new book, The Meritocracy Trap, where he argues that American meritocracy is an illusion. In the US, while affluent parents spend bucketloads of money on their children’s education, including investing in private school, tutors, and test prep, the middle class has found it hard to keep up with the education arms race, nevermind their working class and poor counterparts. Because technological change systematically favors high-skilled workers, rich kids gain access to better paying jobs. They are also more likely to wed and stay married to other well educated, prosperous partners, further cementing a dynastic advantage. In the podcast episode Markovits debates the causes of technological change, the performance of the US labor market, and potential policy responses to the problems articulated in the book.