What is merit, how is it measured, and why does our understanding of it matter? Merit is broadly understood and generally defined as constituting the quality of being particularly good or worthy, especially so as to deserve praise or suitable reward. For example, a fine automobile merits the attention of car connoisseurs because of its outstanding design, craftsmanship, safety, performance, and the good taste of interior appointments. In economics, merit is viewed as the justification for remuneration, compensation, and economic rewards.
Timothy J. Barnett, "Merit: Contrived or Morally Measured?" Journal of Markets & Morality 23, no. 1 (2020): 157-172.