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)
“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)
“Perspective, as its inventor remarked, is a beautiful thing. What horrors of damp huts, where human beings languish, may not become picturesque through aerial distance! What hymning of cancerous vices may we not languish over as sublimest art in the safe remoteness of a strange language and artificial phrase! Yet we keep a repugnance to rheumatism and other painful effects when presented in our personal experience.”
—George Eliot [Mary Ann (or Marian)
“I will use the world and sift it,
To a thousand humors shift it,
As you spin a cherry.”
—Ralph Waldo Emerson (1803–1882)
“Our lives laid down in war and peace may not
Be found acceptable in Heaven’s sight.
And that they may be is the only prayer
Worth praying. May my sacrifice
Be found acceptable in Heaven’s sight.”
—Robert Frost (1874–1963)