In general parlance, the word "meritocracy" is sometimes used to indicate a system in which those most capable are placed in positions where they can exercise their skills. It's nice to have people who know what the hell they are doing doing whatever they do.
But the original coining of the word by Michael Young was more narrowly and skeptically defined as a system in which, "merit is equated with intelligence-plus-effort, its possessors are
identified at an early age and selected for appropriate intensive
education, and there is an obsession with quantification, test-scoring,
and qualifications." In short, a world in which flexibility and imagination are lacking and those who go to Harvard and Yale deserve the silver-spoon treatment they receive.
Perhaps this qualifies as totally useless information.