inheritance

Doesn’t capitalism “centralize” wealth via inheritance?

As wealth is not a static quantity, to be looted and stolen, the wealth that you can earn is not affected by how much wealth someone else has, creates, or inherits. Since wealth is the result of man’s mind, as long as someone has a mind, and is left free to use it, wealth is his to create.

As the creation of wealth is not automatic, those who cannot manage their wealth, will soon lose it. As evidence of this fact witness what happens when a rich man passes on his money to a worthless heir — the heir soon loses it. Such is the meaning behind the popular American saying, “from shirtsleeves to shirtsleeves in three generations.”

0 | inheritance, wealth