The essence of modernity is the replacement of nepotism with meritocracy. The pre-modern world was one of family connections and personal favours. Kings and queens ruled as well as reigned. Families controlled the commercial world. Civil service jobs were handed down to relatives. Oxbridge colleges awarded fellowships automatically to descendants of college founders. The word “nepotism” derives from Latin and was first used to describe the Catholic Church’s practice of allowing popes to appoint their nephews (who were often illegitimate children) to the College of Cardinals.

Bloomberg Opinion