meritocracy

merit, from Latin mereō (“earn”) +‎ -cracy, from Ancient Greek κράτος (krátos, “strength, power”).

Coined in 1958 by Michael Young, in his book Rise of the Meritocracy.[1]

• (UK) IPA^(key): /mɛɹɪˈtɒkɹəsi/
• (US) IPA^(key): /mɛɹəˈtɑkɹəsi/

meritocracy (plural meritocracies)

1. Rule by merit, and talent.
2. A type of society where wealth, income, and social status are assigned through competition.

Though widely used as a term of praise,[2] the term was original coined as a satire, and a critique of awarding educational achievement.[1]

• meritocrat
• meritocratic