Why Elites Fail in The Nation.

The whole article's worth reading for its analysis of how The Iron Law of Meritocracy produces institutionalized inequality as those at the top become most adept at consolidating their position at the top. And that of their families:

 At the broader social level, we hope that the talented children of the poor will ascend to positions of power and prestige while the mediocre sons of the wealthy will not be charged with life-and-death decisions. Over time, in other words, society will have mechanisms that act as a sort of pump, constantly ensuring that the talented and hard-working are propelled upward, while the mediocre trickle downward.

Excellent example there of how laissez faire meritocracy enshrines inequality: A major factor that once encouraged the unworthy offspring of the wealthy to "trickle down" was the inheritance tax. No wonder killing it's been a prime focus of the ultrawealthy through their Republic lackeys these last few decades. Sure it's a "death tax", if by death you mean the end of a dynastic lineage of parasites. When the inheritance tax goes down, inequality goes up.

Chris Hayes on TV comes across as a bit of a twit, but his words minus the personality are insightful. The guy's got it right.