{
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  "id": "7e4zjzzqcr3thva7y5t2jakc37",
  "kind": "fragment",
  "origin": "https://www.msweet.net/notes/",
  "page": "500-cream-crows",
  "author": {
    "name": "Matthew McDowell-Sweet",
    "url": "https://www.msweet.net/"
  },
  "created": "2026-10-02T23:02:04Z",
  "updated": "2026-10-02T23:02:04Z",
  "version": 1,
  "content_md": "Capital-labour-technology dynamics seem poised to go to some weird, truly unprecedented places.\n\n> Under either scenario, the ideological position of the homoploutic class as a legitimate meritocracy will collapse. Under entrenchment, the homoploutic claim to merit becomes untenable because there is no path to entry: Once inheritance is the only way into the top decile of capitalists, such a class can’t credibly describe itself as meritocratic, no matter how hard-working. Under dissolution, if education no longer commands a wage premium, there is no longer any meritorious activity to point at — one is simply an owner of capital, as one’s great-grandfather was. In the first case the asset value of the class survives, but the flow into it stops. In the second, both go.\n\n[The End Of Upward Mobility ↗](https://noemamag.com/the-end-of-upward-mobility)",
  "content_html": "<p>Capital-labour-technology dynamics seem poised to go to some weird, truly unprecedented places.</p>\n<blockquote><p>Under either scenario, the ideological position of the homoploutic class as a legitimate meritocracy will collapse. Under entrenchment, the homoploutic claim to merit becomes untenable because there is no path to entry: Once inheritance is the only way into the top decile of capitalists, such a class can’t credibly describe itself as meritocratic, no matter how hard-working. Under dissolution, if education no longer commands a wage premium, there is no longer any meritorious activity to point at — one is simply an owner of capital, as one’s great-grandfather was. In the first case the asset value of the class survives, but the flow into it stops. In the second, both go.</p></blockquote>\n<p class=\"source\"><a href=\"https://noemamag.com/the-end-of-upward-mobility\">The End Of Upward Mobility ↗</a></p>",
  "content_hash": "sha256:9a1036b66a18a11b92b8bab3d2d91a8707ec720896eafa089ccd3ccd84cb832a",
  "media": [],
  "changelog": [
    {
      "version": 1,
      "at": "2026-10-02T23:02:04Z",
      "note": null
    }
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