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This is simply not true under any standard definition of "rationally." You are assuming a loss function that values only growing the wealth of your family, whe
by jackpirate 7y ago
This is simply not true under any standard definition of "rationally." You are assuming a loss function that values only growing the wealth of your family, whereas many other people have different loss functions that lead to different rational behavior.
- lr4444lr 7y agoI never said families, nor did the OP: just that being able to make decisions, protected by law, as to who receives your assets after you die is a desirable thing for long-term productivity. Name 1 other "loss function" that would scale society-wide. Even the charitable impulse requires that there be well established businesses at which the recipients can spend and benefit from the money, businesses which take a lot of time to build without seeing a return on investment.