The Price of Meritocracy: Debt, Wealth, and Higher Education Today

The Meritocracy Trap places meritocracy at the center of rising economic inequality and social and political dysfunction. The book takes up the law, economics, and politics of human capital to identify the mechanisms through which meritocracy breeds inequality and to expose the burdens that meritocratic inequality imposes on all who fall within meritocracy’s orbit.

Indebted breaks through the culture of silence surrounding the student debt crisis, revealing the unspoken costs of sending our kids to college. The struggle to pay for college is one of the defining features of middle-class life in America today. At kitchen tables all across the country, parents agonize over whether to burden their children with loans or to sacrifice their own financial security by taking out a second mortgage or draining their retirement savings. Indebted takes readers into the homes of middle-class families throughout the nation to reveal the hidden consequences of student debt and the ways that financing college has transformed family life.

Daniel Markovits is Guido Calabresi Professor of Law at Yale Law School and Founding Director of the Center for the Study of Private Law. Markovits works in the philosophical foundations of private law, moral and political philosophy, and behavioral economics. He publishes in a range of disciplines, including in Science, The American Economic Review, and The Yale Law Journal. Twitter @DSMarkovits

Caitlin Zaloom is associate professor of social and cultural analysis at New York University. She is a founding editor of Public Books and the author of Out of the Pits: Traders and Technology from Chicago to London. She lives in New York City. Twitter @caitlinzaloom