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meritocracy

By Gilad Atzmon

The Daily Telegraph revealed today that one in five university graduates becomes a millionaire. More than two million British degree-holders have a net worth of £1m or more as new statistics reveal the education gap between rich and poor”

£1M is a lot of money, it is certainly not sufficient to define the term ‘rich.’  However, the above confirms that social mobility in Britain (and in the West in general) is deeply associated with cognitive ability. The clever move up and swiftly, while the intellectually challenged are left behind.

David Willetts, the universities minister, told The Telegraph that the figures were “more evidence of why going to university is a very good deal.”  Willets may be correct, yet not many youngsters can afford tuition fees anymore. University tuition fees tripled in Britain in recent years and in practice, academia has priced itself beyond the reach of the poor.


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