As we’ve been writing since 2011, we’re still in the smartist era of hyper-capitalism, credentialism, consumerism and spendism. As of 2008, never before in such a short period of human history has so much wealth been created and yet, instead of marveling at the resiliency of the consumer, the web 2.0 & economic boom, and the effectiveness of fed policy, some people find reason to complain. They are frustrated because society is being reshaped – the old status quo supplanted by a new, more cutthroat one, where being ‘good enough’ won’t cut it anymore, where wealth tends to be concentrated among too few, and downward economic mobility has become the new normal. From the New York Times: Stanford rejected 95% of applicants. This was also the most emailed article, surpassing foreign affairs, health, arts, book reviews, and high-profile writers like Thomas Friedman and Paul Krugman. So why do so many people care about this story- about an institution that deliberately closes its doors to the masses? Because it speaks about the New Era which we’re all living in- a reality that is unmovable and omnipresent. It’s indifferent to our wants, needs or desires. Either you adapt, thrive or fall between the cracks. The rest of the world is being molded in the likeness of Sanford, rather than Stanford resembling the rest of the world. In an era of economic abundance, scarcity is prevalent – by design. This may seem unfair, but in a hyper-meritocracy like we have today, not everyone can reap the fruits of prosperity. Some will be left behind. Others think it’s a phase that will pass- that once a threshold of inequality is breached everything will come crashing down and the game will be reset, the deck reshuffled, and the cards re-dealt. Sorry, that’s just wishful thinking- a catharsis for the willfully ignorant. The left predicted in 2008 & 2009 that the US economic and foreign policy hegemony would be upended by the crisis, yet the exact opposite has happened. We’re witnessing the demise of the rest and the rise of the west – most specifically, the U.S. economic elite. Now the left is saying rising inequality is unsustainable, but if this is like any of their other many failed predictions of doom and upheaval, it can and should be ignored. There’s faith in the new generation – young, disenfranchised Obama voters that have recently begun to turn to neoliberal, utilitarian, neoconservative, and libertarian schools of thought. They are fed up with older generation of liberals who preach socialistic welfare statism and Keynesian spend-and-taxation.
The labor market today and for the foreseeable future is heavily skewed in favor of employer versus the employee. With supply far exceeding demand, employers can be choosy and select only the best possible candidates, which include elite colleges. Admittance into an elite college is in and of itself, indicative of superior intellect. Excluding athletic scholarships, possible affirmative action, and legacy programs, elite colleges almost never admit dull applicants, or at least at a much lower rate than non-elite colleges.