credentialism

[kri-den-shuh-liz-uh m]

noun

excessive reliance on credentials, especially academic degrees, in determining hiring or promotion policies.

Origin of credentialism

First recorded in 1965–70; credential + -ism

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

And I strenuously disagree that credentialism can be anything more than zero sum.
More on Whether We're Paying too Much for College
Megan McArdle
September 11, 2012