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 war ii, effects of, effects, world and/or war:
“Today we know that World War II began not in 1939 or 1941 but in the 1920’s and 1930’s when those who should have known better persuaded themselves that they were not their brother’s keeper.”
—Hubert H. Humphrey (1911–1978)
“Virtues are not emotions. Emotions are movements of appetite, virtues dispositions of appetite towards movement. Moreover emotions can be good or bad, reasonable or unreasonable; whereas virtues dispose us only to good. Emotions arise in the appetite and are brought into conformity with reason; virtues are effects of reason achieving themselves in reasonable movements of the appetites. Balanced emotions are virtue’s effect, not its substance.”
—Thomas Aquinas (c. 1225–1274)
“Some of the greatest and most lasting effects of genuine oratory have gone forth from secluded lecture desks into the hearts of quiet groups of students.”
—Woodrow Wilson (1856–1924)
“For human nature, being more highly pitched, selved, and distinctive than anything in the world, can have been developed, evolved, condensed, from the vastness of the world not anyhow or by the working of common powers but only by one of finer or higher pitch and determination than itself.”
—Gerard Manley Hopkins (1844–1889)
“Thus do I want man and woman to be: the one fit to wage war and the other fit to give birth, but both fit to dance with head and feet.”
—Friedrich Nietzsche (1844–1900)