"In meritocracies . . . it's the very intelligence of our leaders that creates the worst disasters. Convinced that their own skills are equal to any task or challenge, meritocrats take risks that lower-wattage elites would never even contemplate, embark on more hubristic projects, and become infatuated with statistical models that hold out the promise of a perfectly rational and frictionless world."
Just in case anyone thought it was time to stop putting all of our eggs into this risky meritocracy basket (just as an experiment), Douthat warns us that there is no other choice, by reminding us that the risk averse "lower-wattage elites" are not actually virtuous, but just too stupid to have cocked things up as badly as Corzine and crew. His evidence? A "tweedy WASP waxing nostalgic for the days when Wall Street was dominated by his fellow bluebloods: "Do you think our guys could have invented, say, credit default swaps? Give me a break! They couldn't have done the math.").
So, before we "revolt against the ruling class that our meritocracy has forged," by searching for "outsiders with thinner resumes but better instincts," don't forget that Michelle Bachman and Herman Cain (hmmm, a woman and a black guy) have not "risen to the challenge. It will do America no good to replace the arrogant with the ignorant, the overconfident with the incompetent."
Come on now Ross Douthat. I guess I'm a low-wattage-tweedy-WASP and all, but I don't think Americans are turning away from the genius that is Timothy Geitner or Barack Obama because their ballsy reckless pursuit of hubristic projects is scaring them. I think they have recognized them for the over-educated bumbling incompetents that they are. Herman Cain is promising the same thing Ronald Reagan did. He is promising to leave us alone to our own pursuit of happiness the way we see fit. We aren't scared of the risks you'll take in our name. We just want you to leave us alone.
_________________________
*Russ Douthat's bio off of Wikipedia explains a bit of his apparent bias towards Ivy League elitism:
"Douthat was born in San Francisco, California, but grew up in New Haven, Connecticut. He attended Hamden Hall, a private high school in Hamden, Connecticut. Douthat graduated magna cum laude from Harvard University in 2002, where he was also elected to Phi Beta Kappa. While there he contributed to The Harvard Crimson and edited the Harvard Salient. As an adolescent Douthat converted to Pentecostalism and then, with the rest of his family, to Catholicism. His mother is writer Patricia Snow. His father, Charles Douthat, is a partner in a New Haven law firm and an award winning poet. In 2007 Douthat married Abigail Tucker, a reporter for The Baltimore Sun and a writer for Smithsonian. He and his family live in Washington, D.C."