https://www.penguin.co.uk/books/313113/the-aristocracy-of-ta...
There seem to be a few debates about the idea with the author on YouTube as well. I think we need meritocracy but it needs to be rebuilt again. It needs to help anyone with talents and not rely on wealth as much as it has started to.
This book introduced the term "meritocracy" and warned of its troubling implications, like the hubris it would create in the most successful and their subsequent looking down on others, in part to justify to themselves that they earned and deserve their good fortunes.
Michael mentions this book in his lecture, which I have an ai bot cleaning up the transcript so I can memorize and re-give it (I know I'm weird, but maybe you will too and then it won't be weird, memorizing important speeches)