Meritocracy
Etymology
A hybrid of Latin meritum ("that which is deserved") and Greek -kratía ("rule"). Strikingly, it was coined as a warning: the sociologist Michael Young invented it for his 1958 satire "The Rise of the Meritocracy," imagining a dystopia where a new elite felt entitled by its test scores. The word escaped the satire and is now used, ironically, as praise.
noun · /mair-ih-TOK-ruh-see/
A system in which advancement is based on demonstrated ability and achievement rather than birth, wealth, or connection.
What it names
It names both an ideal and a trap — the fairness of rewarding talent, and the way that same story can be used to justify whatever inequality results.
Example
The firm called itself a pure meritocracy, though nearly every partner had arrived through the same three schools.
Related idea
Nepotism is the direct opposite principle — advancement by family tie rather than merit. A workplace can preach meritocracy while quietly running on nepotism.