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)
“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)
“Corporate America will likely be motivated to support child care when it can be shown to have positive effects on that which management is concerned about—recruitment, retention and productivity. Indeed, employers relate to child care as a way to provide growth fostering environments for young managers.”
—Dana E. Friedman (20th century)
“Were civilization itself to be measured by some of its results, it would seem perhaps better for what we call the barbarous part of the world to remain unchanged.”
—Herman Melville (1819–1891)
“I have never believed that war settled anything satisfactorily, but I am not entirely sure that some times there are certain situations in the world such as we have in actuality when a country is worse off when it does not go to war for its principles than if it went to war.”
—Eleanor Roosevelt (1884–1962)