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> Death provides a natural mechanism to reset wealth and power. Have you heard of inheritance?
by teaearlgraycold 4y ago
> Death provides a natural mechanism to reset wealth and power.
Have you heard of inheritance?
- jjj123 4y agoIn some countries, like France, you’re not allowed to give more than x% of your inheritance to a single person. This has drastic effects on how large multi-generational fortunes are able to grow. So yeah, death does have an effect on income inequality, as long as the fortunes are split up upon death.
- tsol 4y ago>Have you heard of inheritance? A powerful businessman living forever isn't the same thing as inheriting his son. Children rarely follow in the footsteps of their fathers. What if Warren buffet lived forever, for example? He's very good at saving money and investing. He'll eventually just have a large portion of the wealth that exists
- syncerr 4y agoInheritance does not sustain wealth. > A staggering 70 percent of wealthy families lose their wealth by the next generation, with 90 percent losing it the generation after that. https://www.nasdaq.com/articles/generational-wealth%3A-why-do-70-of-families-lose-their-wealth-in-the-2nd-generation-2018-10 https://www.nasdaq.com/articles/generational-wealth%3A-why-d...