Elite middle and high schools now commonly require three to five hours of homework a night; epidemiologists at the Centers for Disease Control and Prevention have warned of schoolwork-induced sleep deprivation. Wealthy students show higher rates of drug and alcohol abuse than poor students do. They also suffer depression and anxiety at rates as much as triple those of their age peers throughout the country. A recent study of a Silicon Valley high school found that 54 percent of students displayed moderate to severe symptoms of depression and 80 percent displayed moderate to severe symptoms of anxiety.

These students nevertheless have good reason to push themselves as they do. Elite universities that just a few decades ago accepted 30 percent of their applicants now accept less than 10 percent. The shift at certain institutions has been even more dramatic: The University of Chicago admitted 71 percent of its applicants as recently as 1995. In 2019 it admitted less than 6 percent.

The contest intensifies when meritocrats enter the workplace, where elite opportunity is exceeded only by the competitive effort required to grasp it. A person whose wealth and status depend on her human capital simply cannot afford to consult her own interests or passions in choosing her job. Instead, she must approach work as an opportunity to extract value from her human capital, especially if she wants an income sufficient to buy her children the type of schooling that secured her own eliteness. She must devote herself to a narrowly restricted class of high-paying jobs, concentrated in finance, management, law, and medicine. Whereas aristocrats once considered themselves a leisure class, meritocrats work with unprecedented intensity.