Meritocracy And Economic Inequality by Kenneth Arrow
The book examines how meritocratic principles interact with market forces to produce and perpetuate economic inequality, arguing that rewarding talent and effort does not automatically yield fair or socially optimal outcomes. Combining formal economic analysis with normative discussion, it explores how uneven opportunities, information asymmetries, and risk-bearing can distort meritocratic selection and create persistent disparities, and it evaluates policy responses—such as education investment, redistribution, and institutional design—to reconcile efficiency with equity. The central theme is that achieving both merit-based rewards and social justice requires careful institutional correction of market failures rather than reliance on meritocracy alone.
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- American
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- Original Language
- English
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