I suspect there is a lot of "If I don't do it first, someone else will, and they'll be the ones to make all the profits" going on. In that kind of environment, the best thing you can do for your kids is make as much money as possible so at least they will be rich enough to enjoy whatever's left.

Isn't that the definition of a race to the bottom. I have no idea how far away the bottom is, but it seems like once we get there that money might not be all that useful.