Him so i wont attempt to summarize his argument. I do want to briefly however extend a special thank you to share and will is one of our trustees for originally suggesting that danielle come to the Brooklyn Historical society to speak. If you like a year to make it happen. Here we are. So finally, just permit me the final word, a more formal introduction of danielle in his work. And then we will welcome him to the stage. Danielle markowitz is professor of law a yale School Yellow school. Adding director of center of study of private law. Organize works in the Philosophical Foundation is the private law and more on political philosophy and behavioral economics. He publishes in a range of disciplines including in science, the market economic review and law of the l internal. And after earning a ba in mathematics; lonnie from Yale University and markowitz received the marshall loss to semi lincoln where he was awarded a masters of science and a comment metrics and mathematical economics from the London School of economics and philosophy and doctor of philosophy. From the university of oxford. Markowitz then returned to yelp to study law and after for the honorable, he joined the faculty at yale. Please help me welcome danielle markowitz. [applause] student thank you sharon for making it possible for me to be here. Thank you to all of you for coming out on a really beautiful autumn night learned monday lovely things to do in this neighborhood are doubly grateful you are spinning the router here. I will spend the next half hour or so speaking and i hope well have a conversation. What i will see will to be be demoted to denouncing american hypocrisy. Im going to use it of constructing a trap that is there is the rich and excludes the rest. And contributes substantially to the inequality discord and dysfunction that increasingly played in our society. And this might seem an eccentric and even a begotten mentor. The hypocrisy itself seems to us today a common sense. It is hard to object to the idea that people should get ahead. Based on their own accomplishments rather than their parents cast or class surely that is the right way to get everybody a fair shot at success. But matt copper sees nothing great leveler that we hold up to be. In fact it has become merely what it was initially invented to defeat. It is a new type only now based on schooling rather than reading. It creates a competition that even when everybody plays by the rules, only the rich can win while everyone else falls further and further behind. People commonly see that we suffer so much inequality because we have is it too little merit talk is he. Rich find ways to cheat or check the system in order to get and stay ahead. In fact, the greater reason why we have so much inequality that we have is it too much of it. But the rules themselves favor the rich. So that is the thesis of the book the system is right and that it is the culprit. And then everybody loses. To set that out in a little more detail, and helps as it often does to begin with a little bit of history. The old american elite, the mid century and eight that reigned up until around 1970. That was decidedly not meritocratic. It was not especially skilled in and things like College Missions show this. If you want to a posh prep school in the northeast in the 1950s, you are effectively guaranteed a spot at the college that your father had gone to. Then even infected the language of the university of admissions. Boys do not apply at college who put themselves down for the college of their choice. We got college, if you are a member of the elite, you didnt have a distinguished kid year Career Colleges spoke of the happy bottom quarter wishes rich prep school kids who are just pleased to party and didnt want to work. And if i say yellow in, the graduates of the most elite schools in the United States were underrepresented. An academic honors subsided by a factor of three to one. Elite was also not especially hardworking. When people graduated college and entered the firms that american elite men worked at, he its been most of their time doing something brother than working and they remained what they called lisle leisure class and probably so. This is where here, mission see during one of the monday depressionera hearings, and of various financial conduct and crises. One said to the committee, if you destroy the leisure class, to destroy civilization. The leisure class endured into the Second World War and passed it in bakers kept bankers hours well into the 50s and 60s and this was the bakers work dave from ten until three. Generally used to name broadly. And men and her name in the 1950s, the hardest working people on wall street for the cleaners. Everybody else had gone home. By the late afternoon. The American Bar Association said the 1960s, with my confidence the American Lawyer has available to him 1300 billable hours. A year. No more. American businessmen dressed in a suit that was cut for the club rather than for the office and they had a drink cabinet in their office just like the one they had a home. Says the english sociologist who first taught about it. They drank three martini lunches and they went home in the middle of the afternoon. In the elite was also not especially competitive. Rivaled as one commentator said it did not impinge. Nam mary merit to cost or see was adopted in the United States especially as a way of breaking up the chronic elite. Came to harvard first, came to gail loss but when it came to yellow came with a vengeance in the person the president Kingman Brewster who declared that he did not intend to preside over a finishing school in the long island sound. And saw it on to remake the university as an engine of merit and he called himself an indian investment maker. He was looking for that raw talent in a students who revealed the highest returns for their education. Do this he hired a new director of ms. Clark. Along working class from long island. He fired the entire staff and hire new people in his first year reduce the number of legacies and a off. And so the story goes denied admission to the sun of the biggest donor. By 1970 the median young student and sat that wouldve put them in the top 10 percent of the class of 1960. And that happened broadly throughout the american elite. And in some ways is extraordinary how competitive the elite has gotten. In the 1990s, the year in which the university of chicago submitted 71 percent of its applicants and this year it admitted 6 percent. So the american elite has become incredibly competitive and the jobs that indentures are becoming incredibly competitive. Brewster his vision one in the old sclerotic and it was broken and the new dynamic and vicious hardworking meritocratic elite was built in its place. Now that sounds like a story of triumph. It was unfair system and it discriminated against people based on their birth and nothing about them, based on accidents. And that advantage people who were actually in good in anything. So is both unfair and unjust and inefficient. And it was replaced with a system that was fairer than just her and promoted people based on their efforts and their talent. And also more effective and efficient because it created a much more capable and much better trained and harder working elite. Who could possibly wrong with that. Well, heres whats gone wrong with that. The first thing, is that that magic apostasy managed to break the old elite. Because hereditary aristocrats lacked both the incline inclination capacity to train their children. The most academically high school in the United States in 1960 was either bronx by far. Exeter and st. Pauls, were completely unambitious and that went out teaching and learning. The elite was made by the first round the kids who got in got into harvard and princeton in the 60s and early 70s, by being really good at school, well done like their forebears, this new elite knows how to train better than the knows anything. And has an appetite and ambition for training. The numeric chronic elite has rebuilt its family life as domestic life. In a way that emphasizes the training of his children. Collegeeducated people now marry each brother. Much more than they did 50 years ago and monday times more often. They stay married in the ways that non it collegeeducated people generally dont. They bear children within marriage. And if you dont have a College Education is the woman in this country, have a greater than 50 percent chance of bringing children outside wedlock. In the 5 percent of richest and best educated women in the country dont despair but fully raise into adulthood, 90 percent of the children in intact marriages. The rush then segregate themselves geographically they live and search certain neighborhoods which are characterized by certain schools that they know what Public Schools never originate because they pay to send the children to brother Public Schools to private schools with her even more elaborately based on education. If you look at the difference between the enrichment expenditures, standby top fifth and the income dissipation families in the bottom fifth and the income dissipation families from the 1970 his to the present, that difference has tripled. If you look at who spends her name on Public Schools, the typical rich district, like in this area, since twice the National Average per pupil per year on educating children who go through it. And a really elite private school, like some in this part of the country or like the school in new haven, Hopkins School or exeter or in number or see paul today, i its been as much as 75000 per pupil per year. By the time tuition plus annual giving class endowment income are put together. Which is perhaps five times the National Average. This produces an incredibly skewed elite. All this training marks. The school does but the her name haphazardly. They spend it rigorously trying to figure out using the best education science that they have. How to make that investment to convert into academic achievement and their children. And today, a child whose parents make over 200,000 a year, as average, sat score that is 250 points higher than the average sat score of the child whose parents make 40 to 60000 year which is roughly the middle class. A note that the middleclass child has this tasty score this only on average hundred 25 points higher. In the sat score of a child below the poverty line. So the rich middleclass gap in the sat is now twice as big as a middleclass or cow calf. The rich poor gap is even more extreme. He looked at the college for today, he released for example, the year 2016, and that year there were roughly speaking 15000 kids who had a parent with a graduate degree is scored 750 or higher on the verbal component of the sat affect 750 because that is roughly the elite median. How monday kids you say there were his parents had not graduated high school is scored 750 on the sat verbal. Well detail at that. Is self and the statistical techniques to give reliable answers but it is fewer than 100. Son is 15000 kids with parents went to graduate school versus fewer than a hundred parents who did not graduate high school. That means that meritocratic missions produce a massive gap in wealth. A lot of said about College Admissions candles. Like the varsity blues scandal that took over the news last year. Last spring. Another scandalous and disgraceful. Then real. But there are also predominantly rare. If you look at the elaborate of those schemes, they show how rare they are. Legacy admissions are also scandalous and real. They also operate on the margins of emissions and when what way which we know this, is the most elite colleges, have the highest test scores and grades and student bodies. In law schools, Something Like three quarters of students who score in the 99th percentile on the la st, its in the top five law schools. Son is the most elite universities have the highest grades and test scores and their students and that most of the students get really good grades, go to the most elite universities and the mechanism has brought cheating, and is meritocratic and the reason why that is impossible to compete if your middleclass or workingclass, and go to school this been so much less was so much worse studentteacher ratios and so much less staple neighborhoods and so much more difficult it stressed families. With students whose parents have devoted all of the skills and resources from birth or even before birth, to making sure that you can win in a meritocratic competition. If you want to fence out how powerful this is. Say of the following thought experience. Ask yourself, imagine than ever year of a typical 1 percent childs life, the parents did not spend what they spend on education but instead, just that the middle class education expenditure and took the difference between with a blood its been in the middle class families and put into a trust fund. To be invested in index stock and given to the child on the death of the parents as a traditional request or inheritance. And you pick this thought experiment because thats the way the old artistic craddick released past its down through the generations. Lander factories or stocks and bonds in the parents guide the children inherited. Listen today for typical meritocratic family would be over 10 million per child. That is the extent of the dynastic transmission of privilege and not in the forum of land or stocks or factories but in the forum of skills. The training Human Capital. The marriage across meritocracy has produced. It raises up against everybody else outside of the elite. The people get these elaborate educations that go to work. And when they go to work, they are an enormous incomes. Another thing that is happening, is that the existence of the super training on super hard working class, has been the ark innovations and induced new technologies to the invented in manufacturing and retail and law and finance and in medicine. The favored precisely the skills that the elites have. And destroy middleclass jobs. And this has transform the labor market. In the 19 sixties a partner in a law firm made five times of the secretary today the partner makes 40 times the legal secretaries income. In the 19 sixties the ceo made maybe 20 times the median Line Production worker today is between 20300 times. And rockefeller took over chase manhattan he was paid a salary that amounted to roughly 50 times the bank teller. Jamie dimon last year made over 1000 times. So all of this trading congealed and has transformed in a way that explodes the labor income of the elite and the top 1 percent has increased by about 10 percent of National Income over the last 30 or 40 years. May be 50 years. But what is less familiar if you jump three quarters of the increase does not come from the fact that owners are exploiting workers. That is one quarter of the increase the m remaining three quarters that elite workers are exploiting the subordinate workingclass that captures opportunity and income and status and then has all the money to invest in his children. Finally what meritocracy does is it frames the exclusion which is structural and i mean based on social forces much bigger and more powerful than any individual as an individual failure to measure up. It creates a system where the middle class cant compete you to get into harder one harvard because you didnt work hard enough. So that produces a dark psychology of justifiable advantage with the elite and shows itself in different ways and the wave of addiction, suicide, drug abuse over the american middle class which is turning in the anger that one feels that they cant rationalize. The demographic consequences is rotting mortality without economic capacity it is unheard of. That is what causes people to start dying but what causes them today is meritocratic exclusion and the burdens of it. In addition to the elite because they honestly believe in diversity and inclusion and equality that meritocracy is to people of all backgrounds and races and ethnicities. Those excluded from the elite see this morally correct insistence as a way to launder economic privilege because they say we will let anybody in they can cut it we dont discriminate. So then you cant cut it again. And then the nativism that comes within the anger of american politics today. And the story being told to justify. This is the way that meritocracy excludes most americans from opportunity. But finally the rich are wealthy that they are not well. Bankers hours have been replaced from the bank or 95 starts at 9 00 a. M. And begins at 5 00 a. M. The next lawyers are told you must build 2400 hours per year they were twice as many hours than they did in the sixties. The lead executives work 80 hours a week and constantly surveilled and measured. And the competition to get into elite colleges has become so intense that while the same privilege is necessary is not a sufficient condition a lot of people of the elite dont get in so the kids are pushed and prodded and measured and tutored and coached and twisted so they might reproduce status for the next generation to preserve their familys social cast. That goes right into the inside of education for quite know a school where a teacher told tenth graders every morning a problem of the day. You have to solve it before you hand in a solution but i will not give you any time to solve the problem. You have to learn how to finish it early skip recess or take time off of lunch. This is training fifthgraders, ten and 11 yearolds on how to function in a hyper competitive world. This produces young adults and older adults who are alienated from their own interest and who are taught to want and subordinate their native talents and those who work at tasks and work all the time in a very marxist sense it is alienated labor and exploited labor only now the elites now exploit themselves so she becomes wealthy but that doesnt mean she is flourishing as a person. Know that kind of elite suffering is not politically that people of the excluded middle class have any reason to care about. And the rich cant say this is so bad for me. But it is a reason to believe the Current System does not serve anybodys human interest. So for a reason to think if it can be made to understand this and which they