Adrian Wooldridge (the Economist) in "Aristocracy of Talent: How Meritocracy Made the Modern World" argues, rather successfully IMO, that what made Venice the maritime super-power was meritocracy. Indeed, he argues, that the fall of the Venitian empire came swiftly when the Doge was forced to place only Venitians (birthright) to top positions, instead of the most "capable". Hence the available talent pool shrunk.

The book makes for a fine read IMO: https://www.amazon.com/Aristocracy-Talent-Meritocracy-Modern...

ps. this book came out as a response to Michael Sandell's "The Tyranny of Merit: What's Become of the Common Good?" which was a best seller at the time.