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edmund_the_destroyer wrote

Clearly they are convinced the average person is hopeless without the wisdom and guidance of the elite, whether those elite are academics, politicians, engineers, or industrialists.

My formal education was pretty good and if you'll permit some arrogance I would claim to be more knowledgeable on a wide range of topics than most people. But that means I know enough to understand that holding myself as some kind of elite that the unwashed masses need for leadership is flat out incorrect. I know enough to understand that some elementary school teachers, plumbers, insurance clerks, gas station attendants, auto mechanics, nurses, janitors, and chefs have equal or better raw intelligence to me and an equal or better breadth and depth of knowledge.

The people on top of the economic ladder are a combination of the luckiest and the most ruthless. Wisdom, intelligence, skill - they're spread through all levels, and we don't need the top 20%.