A Quote by Ludwig von Mises
If, as is generally the case, the heirs are not equal to the demands which life makes on an entrepreneur, the inherited wealth rapidly vanishes.
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A common objection to inherited wealth is that it stifles the urge to work. I have not generally observed this to be true.
...scientific power is like inherited wealth: attained without discipline. You read what others have done, and you take the next step. You can do it very young...there is no mastery, old scientists are ignored. There is no humility before nature...Its a form of inherited wealth. And you know what assholes congenitally rich people are.
In such a world as ours the idle man is not so much a biped as a bivalve; and the wealth which breeds idleness, of which the English peerage is an example, and of which we are beginning to abound in specimens in this country, is only a sort of human oyster bed, where heirs and heiresses are planted, to spend a contemptible life of slothfulness in growing plump and succulent for the grave-worms' banquet.
The ways of living have been rendered vastly easier by a multitude of inventions, by the increasing wealth of the country, by better and more intelligent service; and yet life is by no means easier, but indeed hard. The demands on time, whether real or imagined, have increased in a greater ratio than the supply of facilities for answering them, and as the earth provokingly continues to revolve on its axis just as rapidly as of old, the days are never long enough for all the duties which they bring.
Instead of promoting inherited wealth for the few, I want to tackle inherited disadvantage for the many.
Inherited wealth may be something easily squandered, but inherited poverty is a legacy almost impossible to lose.
I may not have inherited wealth, but I have some inherited humility.
Humans have changed ecosystems more rapidly and extensively than in any comparable period of time in human history, largely to meet rapidly growing demands for food, fresh water, timber, fiber and fuel. This has resulted in a substantial and largely irreversible loss in the diversity of life on Earth.
There is one way in this country in which all men are created equal—there is one human institution that makes a pauper the equal of a Rockefeller, the stupid man the equal of an Einstein, and the ignorant man the equal of any college president. That institution, gentlemen, is the court.
Fluid intelligence is not a Big Five personality trait: It's a measurement of one's ability to rapidly learn and apply a rule set. As an entrepreneur, you're rapidly dealing with different issues, and your ability to switch from one issue to another is very important.
There can be no doubt that the blessing, of which believers are heirs, is justification by faith; and that the promise, according to which they are heirs of this blessing, is the gospel promise made to Abraham.
Save your wealth against future calamity. Do not say, "what fear has a rich man of calamity?" Wealth sometimes vanishes away and large accumulations perish.
For, owners of their deeds (karma) are the beings, heirs of their deeds; their deeds are the womb from which they sprang; with their deeds they are bound up; their deeds are their refuge. Whatever deeds they do-good or evil-of such they will be the heirs. And wherever the beings spring into existence, there their deeds will ripen; and wherever their deeds ripen, there they will earn the fruits of those deeds, be it in this life, or be it in the next life, or be it in any other future life.
I sometimes think that the only person fit to inherit wealth is the person who doesn't need an inheritance - the person who would create his own fortune no matter what his start in life - and have come to view inherited wealth as an affliction.
The art of wealth-getting which consists in household management, on the one hand, has a limit; the unlimited acquisition of wealth is not its business. And therefore, in one point of view, all riches must have a limit; nevertheless, as a matter of fact, we find the opposite to be the case; for all getters of wealth increase their hard coin without limit.
The art of living has no history: it does not evolve: the pleasure which vanishes vanishes for good, there is no substitute for it. Other pleasures come, which replace nothing. No progress in pleasures, nothing but mutations.
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