1994 article on wealth concentration and inheritance

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Steve Austin
Posts: 178
Joined: Thu Jul 22, 2010 12:17 am

Post by Steve Austin » Sun Jul 25, 2010 7:03 pm

http://socyberty.com/economics/wealth-c ... epression/
Apparently an article from a student economics periodical in Ireland, with some insightful observations from the pre-tech-bubble:
"concentration created fundamental instability in the economy"
"the importance of re-investment by the rich into productive investment, which can lead to benefits for poorer people"
"innovations launch a long-wave of growth"
"inherited wealth is a factor of great importance in giving rise to a high concentration of wealth"
"due to inherited wealth not being complemented by inherited entrepreneurial spirit or the prospects of easy money in a 1920s Bull Market, these few do not act rationally in the long term"


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