Russ Greene argues markets are not meritocracies, saying they often reward demerit and punish merit. Citing Adam Smith and Hayek, he frames meritocracy as a wea

Russ Greene argues markets are not meritocracies, saying they often reward demerit and punish merit. Citing Adam Smith and Hayek, he frames meritocracy as a weak defense of market outcomes amid his broader critique of US debt and Social Security policy.