Latest / The David McWilliams Podcast
2024:26 The Curse of Inheritance
Inheritance is a tricky one. We all want to leave something to our kids if possible, yet inheritance for society makes inequality permanent, favouring the children of the rich. Millennials are about to become the wealthiest generation, which begs the question - should inheritors of wealth play a role in driving social change? What should they give back? A recent Bank of Italy paper reveals the rich stay rich. Tax records dating back to 1427 reveal that the top twenty wealthiest families in Florence remain almost identical to the top twenty richest families in 2008. However, 15th Century…
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