What term refers to a society where personal success is based on talent and individual effort?

Meritocracy refers to a system or society in which individuals are rewarded and promoted based on their abilities, talents, and efforts rather than on their social class, wealth, or other external factors. This concept emphasizes the importance of personal achievement and hard work, suggesting that anyone can succeed if they have the talent and dedication necessary to do so.

In a meritocratic society, access to opportunities is ideally equal, allowing individuals to rise through the ranks based solely on their merit. This contrasts with systems like aristocracy, where power and privilege are typically inherited; oligarchy, which involves rule by a small group often based on wealth or family ties; and capitalism, which revolves around private ownership and the free market but does not inherently guarantee that success is based solely on talent or effort.