Liberal ‘cultural’ egalitarianism is the bright , white outline 
surrounding its deeply rotten, inegalitarian culture core. The modern 
meritocracy has been barely egalitarian at its best, and a far cry from 
its seriously egalitarian origins – when ‘equal rights’ meant equal 
rights to the ownership of property, not just to compete with millions 
of others for crappy jobs. The political culture of the modern 
meritocracy works by separating ‘cultural-social’ issues from those of 
political economy. Obama can endlessly celebrate cultural progress – 
improving attitudes towards ‘minorities’, legislative and judicial 
advances in civil rights for non-white non-men – so long as this 
understanding of culture is separated from the economy, and so long as 
economic questions are not understood to be ‘cultural.’ They are 
questions for the experts, not democratic values.

full: 
http://thecurrentmoment.wordpress.com/2012/11/09/obama-and-the-new-spirit-of-capitalism/
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