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:
“Trade and commerce, if they were not made of India-rubber, would never manage to bounce over the obstacles which legislators are continually putting in their way; and, if one were to judge these men wholly by the effects of their actions and not partly by their intentions, they would deserve to be classed and punished with those mischievous persons who put obstructions on the railroads.”
—Henry David Thoreau (1817–1862)
“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)
“It seems to me that we do not know nearly enough about ourselves; that we do not often enough wonder if our lives, or some events and times in our lives, may not be analogues or metaphors or echoes of evolvements and happenings going on in other people?—or animals?—even forests or oceans or rocks?—in this world of ours or, even, in worlds or dimensions elsewhere.”
—Doris Lessing (b. 1919)
“Every country we conquer feeds us. And these are just a few of the good things we’ll have when this war is over.... Slaves working for us everywhere while we sit back with a fork in our hands and a whip on our knees.”
—Curtis Siodmak (1902–1988)