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New Darwin's law works quite well, even for the rich
3rd generation wealth starts falling apart. Think Joe Kennedy 1st, then John and Bobby and Ted sorta, then John John nice kid but no brilliate mind (RIP) pat Smith, druggie rapist, next gen? down the crapper. Morton Downey and Jr also comes to mind. Prescott Bush? look at shrubs offspring. By the 4th gen the riches exponetionally get distributed to an ever growing pile of neerdowells who squander into the poorhouse. Classic example, Andy Jackson the SOB, the Hermatige was sold for taxes in 1908 and his heirs died penniless in CA durinf the depression.
Riches are like the prosperous farmers of the 1700's. By the 1870's each farm was divided amongst 10 or more decendants making a hard scrabble barely living that resulted in the mass migration westward.
thanx,
bill
ya think Billy G the 6th will have the acumen of the Big Daddy?
My dreams arn't as empty as my concious seems to be
New Inheritance Laws
Yeah, the generational losses work well, --if-- the people wanting the change have the patience to just let it work out. Even c*p like Microsoft is temporary; does anybody think the structure as it is will survive B&B? If so, dreamers.

I would make one small change: inheritances should be spread around as much as possible. That allows entropy to work more efficiently. Don't know precisely which provisions would work best for that.

Simple confiscation of inheritances doesn't do what you want. It simply means that the owner is going to piss it all away if possible before dying -- and remember that any significant wealth, in our society, means that many, many others are dependent on it; employees, investors, retirees, etc. etc., not just fatcats. Then, too, for practical reasons it also means the Government gets the money, and tosses it in the general pot for spending on junkets, buying votes, and all the other wonderful benefits.
Regards,
Ric
New 'Nother data point
Ever been to the Herst Castle? Man built an entire damn Italian Villa on top of a hill with no roads, no utilities, miles from nowhere. Took each truck two days (with an overnight campout enroute) to get to the top with materials. Built an exotic animal preserve for his own private zoo.

After he died, his wealth was split among enough offspring that no one of them could afford the upkeep on it, and now two of them got along well enough to do it together. The place fell into disrepair and was nearly a ruin when it was turned into a state park.

After touring it, it's just amazing to think that someone got to that starting out from nothing. I guess hitting the largest copper mine in history didn't hurt. Nor did taking the profit from that and hitting the largest silver mine in history.
We have to fight the terrorists as if there were no rules and preserve our open society as if there were no terrorists. -- [link|http://www.nytimes.com/2001/04/05/opinion/BIO-FRIEDMAN.html|Thomas Friedman]
     Orange County CA + Billy + Ayn Rand -- All Together Now! - (Ashton) - (5)
         Darwin's law works quite well, even for the rich - (boxley) - (2)
             Inheritance Laws - (Ric Locke)
             'Nother data point - (drewk)
         How to limit most peoples' personal wealth. - (marlowe) - (1)
             Love's not 'free', merely priceless - (Ashton)

Of course I may like it partly because I agree with it...
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