Thursday, April 19, 2012

Inheritance about to matter more in the U.S.

Economist John Quiggin at Crooked Timber has a good post on "The Coming Boom in Inherited Wealth". He says that, among rich Americans now, a lot made their fortunes themselves. In the next generation, though, an increasing percentage of the rich will be rich by inheritance.

That word "rentier": maybe we need to get used to it.

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