[Hayek] argues that markets generally do not reward “merit.†That is, the people who become wealthy in the marketplace do not do so, for the most part, because they are somehow “better†people than those who are not as wealthy. [Merit is] not what the market rewards. The market rewards the creation of value in the form of providing goods and services that other people want. Period, end of sentence.
Something to keep in mind. From The Freeman Online via STR