70% of Wealthy Families Lose Their Wealth By The Second Generation

Economics, Politics, Philosophy, History and Culture
Forum rules
Always add something of value to the discussion and have fun. Mind your language, no porn, no libel, no trolling and no personal attacks.

Please note, views expressed on the forum do not necessarily represent the views of Mises UK. the Mises UK Council, Mises UK Faculty or Mises UK members. Membership of this forum is open to anyone world wide who is interested in civil discussion.
Post Reply
User avatar
Jon Irenicus
Posts: 107
Joined: Sun Mar 25, 2018 9:36 pm

70% of Wealthy Families Lose Their Wealth By The Second Generation

Post by Jon Irenicus » Sun Jul 08, 2018 10:05 am

Former overlord of the original Mises forum.

User avatar
FvS
Posts: 95
Joined: Mon Apr 02, 2018 3:03 am

Re: 70% of Wealthy Families Lose Their Wealth By The Second Generation

Post by FvS » Sat Jul 14, 2018 2:44 am

Second generation? Not fast enough.
"Most whites do not have a racial identity, but they would do well to understand what race means for others. They should also ponder the consequences of being the only group for whom such an identity is forbidden and who are permitted no aspirations as a group." - Jared Taylor

User avatar
Nyarlathotep
Posts: 3
Joined: Mon Apr 30, 2018 6:43 pm

Re: 70% of Wealthy Families Lose Their Wealth By The Second Generation

Post by Nyarlathotep » Sat Jul 14, 2018 5:55 pm

Strange, I remember seeing studies (concerning Northern Italy I think) that you could accurately predict someones socio-economic status by looking at their occupational surname and that the elites in these regions uniformly ran back hundreds of years.

User avatar
Jon Irenicus
Posts: 107
Joined: Sun Mar 25, 2018 9:36 pm

Re: 70% of Wealthy Families Lose Their Wealth By The Second Generation

Post by Jon Irenicus » Sat Jul 14, 2018 8:30 pm

It might be that the elites truly are a small subset of the wealthy, though. I mean if you think about it, say 10% of the wealthy, is still a sizeable enough number to capture the 0.01% elite.

Also bear in mind that these figures are in spite of the central bank and regulatory state. Wealth would probably cycle around even faster in their absence, but I also have a suspicion that some families might prove particularly adept at retaining wealth, particularly in the form of carefully grown privately held companies, which have fallen somewhat out of fashion as central banks have flooded asset markets with money.
Former overlord of the original Mises forum.

Post Reply