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:
“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)
“Corporate America will likely be motivated to support child care when it can be shown to have positive effects on that which management is concerned about—recruitment, retention and productivity. Indeed, employers relate to child care as a way to provide growth fostering environments for young managers.”
—Dana E. Friedman (20th century)
“Upon entering my vein, the drug would start a warm edge that would surge along until the brain consumed it in a gentle explosion. It began in the back of the neck and rose rapidly until I felt such pleasure that the world sympathizing took on a soft, lofty appeal.”
—Gus Van Sant, U.S. screenwriter and director, and Dan Yost. Bob Hughes (Matt Dillon)
“We only know war lasts, rain soaks, and clouds sag stormy.”
—Wilfred Owen (1893–1918)