The meritocratic society has given way to a hereditary meritocracy. The children of the rich are overwhelmingly likely to stay rich. In place of churning, we have stasis. To a large extent, your life chances have been set by the time you are five. ‘[If] you want to be smart and highly energetic, the most important single step you could take is to choose the right parents,’ says Robert Frank.32 Alas, in today’s West, too many people are choosing the wrong parents.
