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Why do you believe that inheritance is not parasitic or rent-seeking behavior? Large fortunes exert a gravitational effect, attracting more money and thus makin
by Porthos9K 7y ago
Why do you believe that inheritance is not parasitic or rent-seeking behavior? Large fortunes exert a gravitational effect, attracting more money and thus making their owners much more powerful than they would otherwise be.
The way I see it, the unchecked growth of intergenerational wealth is how we end up with aristocracy, and I would rather prevent aristocracy from rising than try to overthrow it once it's entrenched.
- DATACOMMANDER 7y agoActually, most fortunes go to zero within a few generations. The “1% squared”—the top 0.01%—is not a monolithic group of people. I’d wager that 90% of the 0.01% had grandparents who were not even part of the 1%.
- Porthos9K 7y agoI don't find your argument persuasive.
- DATACOMMANDER 7y agoOkay.