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:
“One of the effects of a safe and civilised life is an immense oversensitiveness which makes all the primary emotions somewhat disgusting. Generosity is as painful as meanness, gratitude as hateful as ingratitude.”
—George Orwell (1903–1950)
“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)
“... not only do ... women suffer ... indignities in daily life, but the literature of the world proclaims their inferiority and divinely decreed subjection in all history, sacred and profane, in science, philosophy, poetry, and song.”
—Elizabeth Cady Stanton (1815–1902)
“[Veterans] feel disappointed, not about the 1914-1918 war but about this war. They liked that war, it was a nice war, a real war a regular war, a commenced war and an ended war. It was a war, and veterans like a war to be a war. They do.”
—Gertrude Stein (1874–1946)