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)
“Society’s double behavioral standard for women and for men is, in fact, a more effective deterrent than economic discrimination because it is more insidious, less tangible. Economic disadvantages involve ascertainable amounts, but the very nature of societal value judgments makes them harder to define, their effects harder to relate.”
—Anne Tucker (b. 1945)
“In the world of letters, learning and knowledge are one, and books are the source of both; whereas in science, as in life, learning and knowledge are distinct, and the study of things, and not of books, is the source of the latter.”
—Thomas Henry Huxley (1825–95)
“Come Vitus, are we men, or are we children? Of what use are all these melodramatic gestures? You say your soul was killed, and that you have been dead all these years. And what of me? Did we not both die here in Marmaros fifteen years ago? Are we any the less victims of the war than those whose bodies were torn asunder? Are we not both the living dead?”
—Peter Ruric, and Edgar G. Ulmer. Hjalmar Poelzig (Boris Karloff)