Inheritance perpetuates inequality from "summary" of The Haves and the Have-Nots by Branko Milanovic
The transmission of wealth from one generation to the next is a common practice in societies around the world. Inheritance, however, is not just a simple transfer of assets from parents to children; it is a mechanism that perpetuates inequality. By passing down wealth through inheritance, the wealthy are able to maintain their privileged position in society, while the less fortunate are left with limited opportunities for upward mobility. Inheritance plays a crucial role in shaping the distribution of wealth within a society. Those who inherit large sums of money or valuable assets are able to start their adult lives with a significant advantage over their peers who do not have such resources. This initial advantage often leads to further accumulation of wealth over time, as inheritors are able to invest their resources and take advantage of opportunities that may be out of reach for those without inherited wealth. The intergenerational transmission of wealth through inheritance creates a cycle of privilege that is difficult to break. Those who are born into wealthy families are more likely to receive a better education, have access to financial resources, and benefit from social connections that can help t...
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