Crisis is the catchword of our time. After the dawning of the new millennium America stumbled from debacle to debacle. The election of Barack Obama gave hope to many, but the realities of a deeply dysfunctional political economy do not readily yield to a good speech or two. As I write, the slow motion collapse of public education, aided by the policies of a Democratic administration, continues apace. The financial system seems as unwieldy, reckless, opaque, and insanely powerful as ever. I could go on, but my crippling depression prevents me from listing anymore cripplingly depressing examples.

Chris Hayes has a theory about why everything is going to straight to hell. The culprits aren’t the typical cast of Republicans, fundamentalists, and rednecks. It’s the meritocracy that did it.

Hayes is an editor-at-large with the Nation and host of the only cable news program worth watching. In his new book, Twilight of the Elites, he explains that the “fail decade” is a result of an insular and corrupt meritocratic elite, which cannot help but be dysfunctional. Hayes argues that it is the meritocratic ideals of our elites, ossified into perverse caricatures, which engender their repeated blunders. A wide equality but shallow notion of equality allows for greater acceptance of, say, gay marriage, but leaves social mobility a pipe dream, the working and middle classes sidelined, and the safety net perpetually set upon.