Meritocracy not working (anymore)

Had this post on destructed rebound options disabling lottery-shot society from succeeding. And also, more recently this.
Now [as of writing…], this: Not as much a closure of the outside, or re-entry, but a spongy moulding from the inside.

Recalling what one would have learned from Plato [despite this possibly sounding elitist, which may/may not bother you; either way bringing troubling assessment of your intellect (not being beyond IYI), and of mine ..?], about meritocracies versus equality. That there is no one solution that is best, anytime, anywhere.

With if analysed deeply enough, both approaches circle around a central issue, being the one of heridetaricity – a word now that I coined it – the point already made by some bloke under the name of Adam Smith: All’s well, markets can be perfect [which means REGULATED otherwise they’ll NOT be anywhere near perfect!] etc.etc., but the very fact that economic power amassed, can be handed over to next generations in a family, and often will be, undoing the tabula rasa assumed by meritocracy et al.
For many, this is the purpose of Life. E.g., see the standard immigrants’ response upon entering … the US or anywhere else if of clear mind]: “I may have to work hard all my life, but at least here this will enable my children to have a better life”. So, whether outright (and easily squandered, often will be) through Money, or more subtly, through ‘investment’ in education etc., life’s earnings will be driven forward — this may be seen in the abovesecondmentioned/lined article as the core problem.
Maybe ridiculously-tax the rich / their inheritances so pre-death they’ll be more altruistically bee-hiving ..? To go through the needle’s eye but then, hardly anyone is of suitable moral virtue (of any of the world’s wisdom traditions) anymore to be lured by that parable.

So, to solve meritocracy, one would have to live in a totalitarian global commy state that would allow individual strife but not pass-ons to next generations; all children to be raised by the state. Not a privacy-sensitive or Free utopia it would be.

Darn. What’s next ..?

[Edited to add: Well, there’s this monumental piece too easily ignored: Not only meritocracy, but also democracy going crazy … Truth to be told: Counterarguments don’t hold, are not productive, certainly not helping towards a synthesis…]
[Edited to add to the add: this, on similar lines.]
Edited to add to the add²: this, on how capitalism’s decline looks eerily like communism’s…]

This:

[Moneygrabbers feeling empty, copying the double edge (copying earstwhile simplemindtons-also-labor-projects), still feeling empty. And failing. Toronto]