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:
“Oh that my Pow’r to Saving were confin’d:
Why am I forc’d, like Heav’n, against my mind,
To make Examples of another Kind?
Must I at length the Sword of Justice draw?
Oh curst Effects of necessary Law!
How ill my Fear they by my Mercy scan,
Beware the Fury of a Patient Man.”
—John Dryden (1631–1700)
“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)
“There is no true love save in suffering, and in this world we have to choose either love, which is suffering, or happiness.... Man is the more man—that is, the more divine—the greater his capacity for suffering, or rather, for anguish.”
—Miguel de Unamuno (1864–1936)
“Superstition, bigotry and prejudice, ghosts though they are, cling tenaciously to life; they are shades armed with tooth and claw. They must be grappled with unceasingly, for it is a fateful part of human destiny that it is condemned to wage perpetual war against ghosts. A shade is not easily taken by the throat and destroyed.”
—Victor Hugo (1802–1885)