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Nothing could possibly go wrong with eugenics

It can, but we’re quite good at it with all animals and plants..

If you mean that we can breed subservient cripples then sure.

The Idiocracy scenario we've stepped into isn't much better...

It is. It's far from good, but it's much better than eugenics.

Note that we do have a system of eugenics, which we call money.

How so? Birth rate isn't positively correlated with wealth.