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:
“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)
“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)
“If everything is perfect, language is useless. This is true for animals. If animals don’t speak, it’s because everything’s perfect for them. If one day they start to speak, it will be because the world has lost a certain sort of perfection.”
—Jean Baudrillard (b. 1929)
“There are no accidents, only nature throwing her weight around. Even the bomb merely releases energy that nature has put there. Nuclear war would be just a spark in the grandeur of space. Nor can radiation “alter” nature: she will absorb it all. After the bomb, nature will pick up the cards we have spilled, shuffle them, and begin her game again.”
—Camille Paglia (b. 1947)