banking services chronicle may 2021 pdf published this article In the wake of the downfall of all the major ideologies of the 20th century Fascism Communism etc. the New Order heralded by President Bush emerged as a battle of Open Club versus Closed Club societies at least from the economic point of view. All modern states and societies must choose whether to be governed by merit meritocracy or by the privileged few oligarchy. It is inevitable that the social and economic structures be controlled by elites. It is a complex world and only a few can master the knowledge it takes to govern effectively. What sets meritocracy apart is not the number of members of its ruling or leading class usually no larger than an oligarchy. No it is distinguished by its membership criteria and by the mode of their application. The meritocratic elite is an open club because it satisfies three conditions 1.. The process and rules of joining up i.e. the criteria are transparent and widely known. 2.. The application and membership procedures are uniform equal to all and open to continuous public scrutiny and criticism. 3.. The system alters its membership requirements in direct response to public feedback and to the changing social and economic environment. To belong to a meritocracy one needs to satisfy a series of demands whose attainment is entirely up to he individual. And that is all that one needs to do. The rules of joining and of membership are cast in iron. The wishes and opinions of those who happen to comprise the club at any given moment are of no importance and of no consequence. Meritocracy is a fair play by rules of equal chance to derive benefits. Put differently is the rule of law. To join a meritocratic club one needs to demonstrate that one is in possession of or has access to inherent parameters such as intelligence a certain level of education a potential to contribute to society. An inherent parameter must correspond to a criterion and the latter must be applied independent of the views and predilections of those who sometimes are forced to apply it. The members of a committee or a board can disdain an applicant or they might wish not to approve a candidate. Or they may prefer someone else for the job because they owe her something or because they play golf with him. Yet they are permitted to consider only the applicants or the candidates inherent parameters does he have the necessary tenure qualifications education experience Does he contribute to his workplace community society at large In other words is he worthy or deserving Not WHO he is but WHAT he is. Granted these processes of selection admission incorporation and assimilation are administered by mere humans and are therefore subject to human failings. Can qualifications be always judged objectively unambiguously and unequivocally Can the right personality traits or the ability to engage in teamwork be evaluated objectively These are vague and ambiguous enough to accommodate bias and bad will. banking services chronicle may 2021 pdf
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