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Rob Knight's avatar

In some ways this echoes Michael Young's point about meritocracy: that it establishes some set of credentials by which people can claim to deserve their wealth, and so those with wealth will pursue those credentials. This warps both the wealthy themselves (they have to make a claim which is either untrue or at least unrepresentative of the reality) and the credentialing system, which takes on the role of legitimation of inherited wealth, a role it is profoundly unsuited to.

But Young was writing in the Britain of the 1950s; we could certainly say that the two world wars had changed the nature of British aristocracy, but frankly less than it had been changed almost anywhere else. Holding up British aristocratic traditions as an alternative doesn't really work.

Hayek, writing only a little later, also argued for inherited wealth on a similar basis to your argument: that inherited wealth provides an opportunity for weirdness and experimentation, and this is useful to society as a whole even if the median aristocrat is not especially impressive. It's a neat argument but I think it misses some important things out.

Historically, aristocrats were not especially creative. The great works of medieval architecture were mostly religious, and the institutions taking the long-time-horizon were the monasteries. Aristocrats were not, by and large, sponsoring artists, historians, or philosophers, nor were the aristocrats themselves living especially interesting lives, for the most part. Aristocrats were concerned with acquisition and retention of wealth, through war and marriage. Sometimes war justified some risk-taking, but more often the conservative principle was dominant.

Capitalism was a challenge to this worldview precisely because it made conservatism dangerous: the world was changing and merely standing still was not enough. But the British experience - which leaves a baleful impact on the culture to this day - was one in which aristocrats would alternately co-opt or crush those whose innovations might upset the order too quickly. The oppositionalism of the British class system comes from this source: a recognition that the aristocrats have done nothing to deserve being in charge, but will insist on it anyway, and will warp any system that might change things. The terrible state of British management (https://www.economicsobservatory.com/why-have-so-many-uk-companies-been-badly-managed-for-so-long) is directly downstream of this: management positions are still awarded as class perks rather than by merit; the second-order consequence is that even good managers find it hard to summon the moral authority to manage effectively, because this is a classic "market for lemons".

Grindslop is somewhat similar: it obscures the truth about what's really going on. The performance of working hard serves the same purpose as that of an elite education: it's a justification for success that can be defended in the current discourse. That it's an expensive performance which harms both the people who do it and the people who imitate it seems correct. I'd only caution that the traditional aristocracy really didn't do any better than this.

janwaar's avatar

Man this was too good

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