Meritocracy (noun)

1. A system in which individuals are selected, promoted, and rewarded based on their abilities, knowledge, and performance rather than their social or economic background.
2. A society in which individuals are given equal opportunities to succeed based on their merit, rather than their privilege or status.

Origin:

The word 'meritocracy' is derived from the latin words 'meritus' meaning 'deserving' and 'cratia' meaning 'power'. it was first used in the 1950s.

Examples:

1. The meritocracy principle is that the best person for the job should get it, regardless of their background.
2. The meritocracy system is considered to be more fair and just compared to a system based on privilege or nepotism.
3. The meritocracy idea is that everyone should have an equal chance to succeed based on their abilities.
4. The meritocracy concept is central to many educational and employment policies.
5. The meritocracy idea has been criticized for being idealistic and not accurately reflecting the reality of systemic biases.