> "Wealth inequalities have a forward momentum, as compound interest increases fortunes and, in the absence of effective inheritance taxes, wealth is handed dow

> "Wealth inequalities have a forward momentum, as compound interest increases fortunes and, in the absence of effective inheritance taxes, wealth is handed down from one generation to another, undermining social mobility and economic efficiency" Take it as meaning that, were inheritance taxed, we could curb the progression of wealth inequality. But these taxes are getting relaxed, and so the issue worsens. Also, with falling fertility rates, we may see more wealth getting concentrated in the hands of single childs. I am in such a case: I will inherit from both my parents, alone. (Although I am not really looking forward to this day). Here, wealth is getting concentrated in fewer hands through inheritance.