Earlier quoted context omitted.
The public makes a huge investment in Harvard, both directly through grants and indirectly through waived taxes. Is subsidizing social networking with and among the privileged a good use of public dollars?
Well, you get smart kids who actually earned their spot connected to the rich kids with money. The first group isn't as privileged as the second group. This certainly isn't the best system, but if it was removed, would something better naturally emerge, or would we just further reduce social mobility without any benefit? /realpolitik
I think you should consider another possibility—-that things like getting into Harvard is how rich kids end up being elite. Take those things away from them and many will still be wealthy but they won’t be elite. They’ll be the guy working a mid level job (or none at all) that just happens to have a really sweet house and vacations in Aspen.