When the child of a janitor is as likely to wind up a multi-millionaire as the child of a multi-millionaire, and when the child of a multi-millionaire is as likely to end up a janitor as the child of a janitor, then we might be able to take “inheritance” out of the equation.
Yes, there are other factors involved, including brains, hard work, ambition, and guts, but also including connections, better education at all levels, start-up capital, and family example, these last of which are perks of the accident of being born rich.
When the child of a janitor is as likely to wind up a multi-millionaire as the child of a multi-millionaire, and when the child of a multi-millionaire is as likely to end up a janitor as the child of a janitor, then we might be able to take “inheritance” out of the equation.
Yes, there are other factors involved, including brains, hard work, ambition, and guts, but also including connections, better education at all levels, start-up capital, and family example, these last of which are perks of the accident of being born rich.