Language is funny.

The term 'meritocracy' entered the popular lexicon with the publishing of https://en.wikipedia.org/wiki/The_Rise_of_the_Meritocracy, a satirical work that lampooned the idea. But the term was adopted seriously and has persisted.

I think it's self-evident that the notion accomplishes nothing, rather just kicks the can to a debate over what you consider meritorious.

That's still a much simpler debate, at least morally. As far as pay is concerned merit is how much money you are paid in a competitive, free market.

I think it's best to focus on two types of merit. There is potential merit ( how much you could be making ) and capturing merit ( how good you are at capturing your potential merit ).

let's take an example. If there are two hotdogs sellers on the street and they sell the exact same hot dogs at the exact same location but one charges two dollars and the other charges four dollars - and the guy who charges more ends up making more money. does the guy who gets paid more have more merit ? yes. they have the same amount of potential merit but the guy who knows the correct price to charge has more capturing merit.

Or have different goals. Both are reasonable explanations.

Then why don't you go start a company and employ minority women for half the price of the competition and leave them in the dust?

In a competitive free market, people are paid according to their worth. And their worth is what they are paid. Arbitrages are naturally found and eliminated.

Except that's not true in the least. They're not paid according to their worth; they're paid according to what they can negotiate. These are two entirely separate things. I guarantee you that at least half the people on this board have a story of someone at one of their jobs who was paid quite handsomely, but was extremely incompetent. TheDailyWTF is filled of stories of "Highly Paid Consultants" who write some of the most WTF-worthy code ever seen.

This blind, religious-like faith in the "free market" you exhibit doesn't serve to help anyone.