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> Most wealth in the world is inherited and grows over generations. According to "Inheritances and the Distribution of Wealth Or Whatever Happened to the Great
by Ginden 5y ago
> Most wealth in the world is inherited and grows over generations.
According to "Inheritances and the Distribution of Wealth Or Whatever Happened to the Great Inheritance Boom?":
> Of the total wealth of the population, Kessler and Masson estimated that 35 percent originated from inheritances or gifts. Among those who had reported receiving an intergenerational transfer (who were about two and a half times richer than the average household), the corresponding proportion was 40 percent.
This proportion will probably drop if we exclude land.
- kubb 5y agoSounds about right. Add compounding stock gains on the inherited wealth, rent and growing land prices, and you'll have more than half. > This proportion will probably drop if we exclude land. Sure and if we exclude stocks it will drop further, but there's no reason to exclude land, the single most important form of property, from the calculation.
- piva00 5y agoWhy would one exclude land from the calculation though?
- Ginden 5y agoIt can skew results, because poor (by income) people can own some wealth in land, because they don't want to sell it for legal or sentimental reasons. My own grandmother keeps some wasteland, because she believes that someday her children (medical professionals) will farm it.