As defined at the reference,
“The Peter Principle states that "in a hierarchy every employee tends to rise to his level of incompetence", meaning that employees tend to be promoted until they reach a position at which they cannot work competently. It was formulated by Dr. Laurence J. Peter and Raymond Hull in their 1969 book The Peter Principle, a humorous [1] treatise which also introduced the "salutary science of hierarchiology”
Has there even been a more profound example of the Peter Principle than the beleaguered Anthony Weiner?
http://en.wikipedia.org/wiki/Peter_Principle