This is the definition I am using:
a system, organization, or society in which people are chosen and moved into positions of success, power, and influence on the basis of their demonstrated abilities and merit.
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Do I believe it could work? Maybe.
Do I believe it’s been seriously tried to a significant degree? Nah.“Wherever you go, there you are” also applies to the human condition and any kind of whatever-cracy. At the end of the day, people are people and a lot of people suck, there’s no fix for that.