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Won’t this eventually happen in the United States too? What’s stopping it other than a later start. There’s more entrepreneurial spirit perhaps but the sons an
by ajeet_dhaliwal 9y ago
Won’t this eventually happen in the United States too? What’s stopping it other than a later start.
There’s more entrepreneurial spirit perhaps but the sons and daughters of wealth creators will still inherit.
- gbacon 9y agoRead the chapter “Economic Outpatient Care” in Thomas Stanley’s The Millionaire Next Door to learn how poorly on average American millionaires pass to their children the skills necessary to build wealth.
- askvictor 9y agoAmericans, perhaps. But whole nobility (more of a European thing) thing is in part to preserve these skills across generations.
- eksabajt 9y agoI'm not certain about the figures for wealth mobility, but intergenerational income mobility is already worse in the United States than in Europe and has been for some time. https://wol.iza.org/uploads/articles/176/pdfs/intergenerational-income-persistence.pdf https://wol.iza.org/uploads/articles/176/pdfs/intergeneratio...