From the article:
All elitisms run the risk of inbreeding and sterility. The real benefit of a perceived equality among citizens, as driven by the rough and tumble of economic competition, is not only that it expands the wealth pie but also continuously changes the diners at the table. That means that some at the head table may never have the proper politically correct manners, but that is the price of vitality. The problem with socialism and its near cousins is that it places the selection of winners and losers (even if called “industrial policy”) in the hands of the status quo, who quite naturally will put their friends and family first in line.