Studying the demise of historic civilisations

Re:Studying the demise of historic civilisations by coldtea on Tuesday March 05, 2019 @08:42AM (#19310410)

While this was quite common (money being squandered after several generations), it's not necessarily as common today among the ultra-rich. Among the upper middle class, yes, it's common to happen.

E.g. maintaining the "real value" is not as much of problem for people having tens of billions (as we increasingly see today). Even if the value drops, they're still multi-billionaires. And diversification strategies today span the globe.

And the "3 children inheritance diffusion" problem is easy to solve: rich people have less kids today than historically.

There's also that:

https://qz.com/694340/the-richest-families-in-florence-in-14...

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Re:Studying the demise of historic civilisations by agent008t on Tuesday March 05, 2019 @09:20AM (#19310645)

1. If a family that gets wealthy, stays wealthy, that's great - the number of wealthy families can only go up, so over time there will be more and more wealthy families.

2. If, on the other hand, there is some survivorship bias going on there and wealth rotates a lot, and some members of wealthy families keep their wealth, that is not as good an outcome but it is still not so bad, as it suggests that as a family's culture degrades their wealth will likely degrade as well.

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