There are only privileges and privileges belong to the strong. In a sense all power are legitimate, justified by cowardice and stupidity of the mobs.
Capitalism, meritocracy, and libertarianism are great just like the sun is great. But planing and living your life as if you live in capitalistic country will be like holding your breath till sun rise. You need to live and breath at night as well as sun rise.
If heaven ordains that the strong crush the weak, it’s your obligation to be strong rather than abhorring power and blaming the strong for all their privileges.
I am not really sure how useful this kind of thinking, even for our selfish interest, as our world go closer and closer to capitalism, but it’s a point of view that we shouldn’t ignore.
Morality is simply another way to max out profit. Normally businessmen max out wealth and then use their wealth to maximize their selfish interest. In reality, business is just a subset of the real world. Everything is part of the game and wealth is just a form of power.
Naturally we would expect that everyone max out their power and use their power to max out their selfish interest. What’s so surprising about politicians getting kick back or lobbyist getting bail out. Isn’t that what everyone is doing, wanting to rob their fellows for themselves?
Perhaps the fact that the super rich are the one that end up paying less tax and getting bailout would help the people realize how stupid it is to give power to political rather than commercial process. Till they realize that, we’ll just play along.