At the early phase of industrialization, the education in South Korea has been seen as a ladder
for upward social mobility. But since then, there have been more references to such unequal
starting points as inheritance of wealth, income polarization, disparity in additional education
investments, residential segregation, and social stratification associated with school rankings. This
leads us to examine the underlying principles and the myth of meritocracy. In this regard, this
article is to return, as a point of departure for examination, to the book, The Rise of Meritocracy,
written by Michael Young who first coined the term. And the paper examines the characteristics
and shortcomings of it by rethinking how it continues to resonate today. In doing so, first, the
research investigates if Young’s predictions on the future of meritocracy are still effective and
relevant today. Second, the author points out the limitation of meritocratic belief that is not
sufficient grounding enough where theory of recognition is concerned. Third, this paper addresses
the ethical demands combined with the ideal of democracy in schooling. And the author also
discusses the ethics of recognition in consideration of contemporary Korea’s social changes of
what is called as risk society or liquid society and draws the possible lessons from Young’s
arguments from the perspectives of democracy rather than meritocracy.