What is the name of the ideology that posits everyone's individual financial position (and the societal distribution of economic inequality) is already entirely justified, that is, individually earned by legitimate merit rather than substantially reflecting chance and privilege/disadvantage?
So far I've considered:
- "Meritocracy" seems unclear. On one hand "meritocracy myth" seems to be a term of disparagement for this ideology, but "meritocracy" on its own is usually used in reference to policies attempting to mitigate unfair biases (i.e. implicitly rejecting the ideology).
- "Prosperity gospel" seems similar, but implies a different specific mechanism (divine hand rather than the invisible hand of the free market)
- Although it was one of the ideologies promoted by Ayn Rand, I don't think this is the part referred to as "objectivism".
- "Karma" implies other forms of merit (and reward) that are often at odds with being enterprising and financially astute.
"Rand espoused [insert noun here]."