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 world war ii, effects of, effects, world and/or war:
“One ... aspect of the case for World War II is that while it was still a shooting affair it taught us survivors a great deal about daily living which is valuable to us now that it is, ethically at least, a question of cold weapons and hot words.”
—M.F.K. Fisher (1908–1992)
“One of the effects of a safe and civilised life is an immense oversensitiveness which makes all the primary emotions somewhat disgusting. Generosity is as painful as meanness, gratitude as hateful as ingratitude.”
—George Orwell (1903–1950)
“The hippie is the scion of surplus value. The dropout can only claim sanctity in a society which offers something to be dropped out of—career, ambition, conspicuous consumption. The effects of hippie sanctimony can only be felt in the context of others who plunder his lifestyle for what they find good or profitable, a process known as rip-off by the hippie, who will not see how savagely he has pillaged intricate and demanding civilizations for his own parodic lifestyle.”
—Germaine Greer (b. 1939)
“Today the world changes so quickly that in growing up we take leave not just of youth but of the world we were young in.... Fear and resentment of what is new is really a lament for the memories of our childhood.”
—Peter B. Medawar (1915–1987)
“I certainly know that if the war fails, the administration fails, and that I will be blamed for it, whether I deserve it or not. And I ought to be blamed, if I could do better. You think I could do better; therefore you blame me already. I think I could not do better; therefore I blame you for blaming me.”
—Abraham Lincoln (1809–1865)