Originally posted by Blaupanzer
KH's first paragraph above is absolute, utter drivel based on the belief that the rich got that way because they deserve it, even if, in fact, most of them inherited it. No study has ever shone that the inheritors have any measurable proportion of the capability of those who built the wealth.
KH's first paragraph above is absolute, utter drivel based on the belief that the rich got that way because they deserve it, even if, in fact, most of them inherited it. No study has ever shone that the inheritors have any measurable proportion of the capability of those who built the wealth.
b) There is no such thing as dessert in any reasonably complicated economic system. Rich people got rich because they were good at getting rich, or were lucky, or both. The attributes which made them good at getting rich (other than luck) are probably inheritable to some extent (larger or smaller). It is at least a prima facie reasonable hypothesis that a significant part of intergenerational income correlation is due to this heridity. Feel free to dispute this with evidence.
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