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I think this explains a gap between a line of wealthy people and the poor classes that reach adulthood with 0 wealth. But on the other side, an upper class that
by conanbatt 8y ago
I think this explains a gap between a line of wealthy people and the poor classes that reach adulthood with 0 wealth. But on the other side, an upper class that have a kid that never produces and lives off the inheritance will fall behind another one that continues with the empire growing. And it turns out, most multi-millionaires have a regression to the mean: people really do spend up inheritances.
If the world gets richer, we should expect that the richest will be wealthiest with the passage of time, due to the compounding effect of wealth itself, but thats not really a problem for anyone..