[extropy-chat] Inheritance

[Robert Lindauer]

Brent:

Could you post the source for these statistics along with the relevant 
definitions?  My books say otherwise.

Thanks,

Robbie Lindauer




Brent Neal wrote:

> The statistics we've already seen about the longevity of family wealth is a powerful data point arguing against their being some 'unfair' advantage.
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>Further, even though there seems to be some disagreement as to how many wealthy people in this country are self-made, the fact that the low-end number I saw was 40% indicates that whatever advantage the born-wealthy have is, it is certainly not insurmountable.  And it most certainly does not "prevent people who are better at the game from winning it."  The fact that person A inherited a large sum of money does not prevent person B from starting a business from scratch and prospering.
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>In fact, as an anecdotal aside, it was noted that businesses that were strapped on start-up cash had a better success rate than businesses that were flush with venture capital.  "Lean and hungry" and all that jazz. The statistics were published in Forbes, back in 2001 or so. 
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