Effects of World War II
Economists assert that the largest transfer of wealth will be as the older generation leaves wealth to the baby boomers. Inheritance has been estimated to make up 6% of the US GDP each year. The current generation is wealthier than any generation before. This increase in wealth and inheritance indicates a rise of "old money" in American families. Stephen Haseler argues that America is becoming an inheritance culture in which much economic opportunity is from family inheritance and not personal achievement.
Read more about this topic: Old Money
Famous quotes containing the words effects of, effects, world and/or war:
“Each of us, even the lowliest and most insignificant among us, was uprooted from his innermost existence by the almost constant volcanic upheavals visited upon our European soil and, as one of countless human beings, I can’t claim any special place for myself except that, as an Austrian, a Jew, writer, humanist and pacifist, I have always been precisely in those places where the effects of the thrusts were most violent.”
—Stefan Zweig (18811942)
“Oh that my Pow’r to Saving were confin’d:
Why am I forc’d, like Heav’n, against my mind,
To make Examples of another Kind?
Must I at length the Sword of Justice draw?
Oh curst Effects of necessary Law!
How ill my Fear they by my Mercy scan,
Beware the Fury of a Patient Man.”
—John Dryden (1631–1700)
“I have lived in both worlds. And I think I prefer, to the indifferent, haphazard, money- mad hurry of the Outside World, that of my world; that sympathy and understanding grown shadowy since I have been away from it so long, still is more real to me than the world I am in now. Not only the spangles and the gay trappings made it colorful; there was an inner color that warmed the soul. And that I miss.”
—Josephine Demott Robinson (1865–1948)
“Armies, for the most part, are made up of men drawn from simple and peaceful lives. In time of war they suddenly find themselves living under conditions of violence, requiring new rules of conduct that are in direct contrast to the conditions they lived under as civilians. They learn to accept this to perform their duties as fighting men.”
—Gil Doud, U.S. screenwriter, and Jesse Hibbs. Walter Bedell Smith (Himself)