Meritocracies don't exist, according to Krawcheck. "They're 'man-tocracies.'"
Sallie Krawcheck is questioning the meritocracies of Wall Street — or, as she’s calling it, the “man-tocracies.”
As Krawcheck describes them, meritocracies are like the “apple pie of capitalism.”
A meritocracy is a system in which the talented are chosen and moved ahead on the basis of their achievement.
“What’s more meritocratic than my industry Wall Street? Core meritocracy. What’s another meritocracy? Venture capital,” Krawcheck said in a recent speech during a conference for the Ellevate Network. “These are businesses that must be meritocracies, in which these businesses are money businesses driving capital to the best returns. So therefore, they will find the best talent.”
However, she added, “it just so happens that the best talent is more white males.”
www.thinkadvisor.com
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