The New Aristocracy Has No Titles: Piketty, Meritocracy and the Inheritance of Advantage
How capitalism moved from inherited privilege to earned success—and why "earned" itself is now one of the most consequential questions in political economy The great ideological victory of modern capitalism lies not in its productive capacity but in its moral camouflage. Privilege no longer arrives bearing crests and coronets; it arrives bearing diplomas. The transition from aristocracy to meritocracy represents one of the most profound shifts in how societies justify inequality—yet the underlying mechanics of advantage have proven remarkably resilient. Thomas Piketty's monumental scholarship, spanning Capital in the Twenty-First Century (2014) and Capital and Ideology (2020), systematically dismantles the meritocratic narrative that has come to define contemporary capitalism, revealing how the inheritance of advantage has simply changed costumes rather than disappeared. I. The Ideological Architecture of Inequality Every durable inequality regime requires what Pi...