It was a social lift taking people up. On the other hand, by making workers more productive it reinforced the competitive advantage of being born wealthy.
Too harsh competitions creates cheating.
And there is no lift taking wealthy/high positioned people down when they are incompetent, especially when governments gives free money to the stock exchange (QE).
Well, we are heading full speed to Victorian era and hard social conflict, because educated poor will eventually understand the game is rigged.