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:
“Whereas Freud was for the most part concerned with the morbid effects of unconscious repression, Jung was more interested in the manifestations of unconscious expression, first in the dream and eventually in all the more orderly products of religion and art and morals.”
—Lewis Mumford (1895–1990)
“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)
“The time must come, my friend ... when brutality and the lust for power must perish by its own sword.... For when that day comes, the world must begin to look for a new life, and it is our hope that they may find it here. For here we shall be, with their books, and their music, and a way of life based on one simple rule: Be kind.”
—Robert Riskin (1897–1955)
“Bernstein: “Girls delightful in Cuba stop. Could send you prose poems about scenery but don’t feel right spending your money stop. There is no war in Cuba. Signed Wheeler.” Any answer?
Charles Foster Kane: Yes—Dear Wheeler, You provide the prose poems, I’ll provide the war.”
—Orson Welles (1915–1985)