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It's not just about the "virtue hoarding", another important part of the thesis is that the PMC is responsible for the economic decline/suffering of the labor class, and that they hurt themselves as well in service to the capitalist owner class. She also criticizes rent-seeking. I am not far enough into the book to be an authority, but I think it's interesting
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I believe the author is a socialist
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Based on the description, it seems like they're diagnosing a correct problem (virtue signaling and misplaced meritocracy), but advocating a wrong solution (collectivism)