The counter-argument is that it's US cultural hegemony.
Britain's a good place to see this. The 19th Century created a lot of new "millionaires," but they tried their hardest to ape the aristocracy then intermarried with them (changing them slightly in the process - mid-Victorian aristocrats were notably bourgousified compared to the 18th century). This is why public schools and Oxbridge became important in the first place vs. a purely hereditary system.
It could only be sustained by the aristocracy being the only centre of prestige though. Once a new class had risen up in the post-war US, the cool kids wanted to be like them, as opposed to the 417th Marquess of Cornwallshireshire, leading to the Blairite class and the "New Establishment." It's not a coincidence that Blair was the first [British?] politician to use the word "meritocracy" unironically to refer to something good.
The counter-argument is that it's US cultural hegemony.
Britain's a good place to see this. The 19th Century created a lot of new "millionaires," but they tried their hardest to ape the aristocracy then intermarried with them (changing them slightly in the process - mid-Victorian aristocrats were notably bourgousified compared to the 18th century). This is why public schools and Oxbridge became important in the first place vs. a purely hereditary system.
It could only be sustained by the aristocracy being the only centre of prestige though. Once a new class had risen up in the post-war US, the cool kids wanted to be like them, as opposed to the 417th Marquess of Cornwallshireshire, leading to the Blairite class and the "New Establishment." It's not a coincidence that Blair was the first [British?] politician to use the word "meritocracy" unironically to refer to something good.