Inhertied wealth Flashcards
(6 cards)
Inherited wealth:
KU: what inherited wealth is
how it makes it easier for some people to get rich quickly
A: important because it means people who get inherited wealth get a head start with certain things (owning a house
buying a car
KU: home ownership has changed in the last 50 years since houses are costing more. Average family income would have to be completely saved for 96 years to reach the same level as wealth of the top 10% of the uk
A: important because it means that some people will not be able to have the same financial opportunities as someone else just because they weren’t lucky enough by chance
E: it continues to go on regardless of what’s happening with the rest of the economy
and it’s more likely to happen in richer areas making the inequality gap even larger. Makes it very hard for people who don’t have inherited wealth to do many things.
