meritocracies

/M EH0 R IH0 T AO1 K R AH0 S IY0 Z/
noun
  1. 1

    Rule by merit, and talent.

  2. 2

    A type of society where wealth, income, and social status are assigned through competition.

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Source: https://en.wiktionary.org/wiki/meritocracies, https://en.wiktionary.org/wiki/meritocracy

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