Peter Singer, a prominent utilitarian philosopher, advocates for minimal inheritance, encouraging the wealthy to donate to the global poor. Julia Davies, an angel investor and environmental lawyer, argues for a wealth tax, emphasizing that the decision of the rich to distribute wealth shouldn't solely rely on personal preference. Adrian Wooldridge, a global economist, counters that wealthy individuals can positively impact society. They explore the ethics of wealth transfer, the societal implications of inheritance, and the urgency for equitable solutions.
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Global Well-being over Children's Inheritance
Peter Singer argues that inheritance decisions should consider everyone's well-being, not just the children's.
He suggests leaving children enough to survive, but prioritizing donations to those in greater need.
insights INSIGHT
A Better World as the Greatest Legacy
Julia Davies believes a parent's greatest legacy is a better world for their children.
She prioritizes using her wealth to address current societal and environmental problems.
insights INSIGHT
Inheritance with Reasonable Taxation
Adrian Wooldridge supports inheritance but with reasonable taxation.
He argues for multiple philanthropists over state monopoly on wealth distribution.
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In 'The Aristocracy of Talent', Adrian Wooldridge delves into the history of meritocracy, tracing its evolution from ancient ideas to its current state. He argues that meritocracy has been a driving force behind modern prosperity but is now facing challenges from both the left and the right. Wooldridge advocates for the renewal of meritocracy rather than its abandonment.
Some of the richest people in the world have decided against bequeathing their fortunes to their children; from Bill Gates and Warren Buffett, to Daniel Craig and Michael Sheen. The proponents of this view offer many arguments, including the idea that inheriting huge wealth can detrimentally impact children, distorting anything they might do with their life. They also argue that the wealthy are morally obliged to give most, or all, of their wealth away to effective causes – children, or no children.
Nonetheless, historically, the vast majority of parents have decided to hand down their wealth to their children, believing it will help rather than harm them.
In this episode, three leading thinkers come together to debate the motion ‘The kindest thing a parent can do for their child is to leave them nothing.’ Utilitarian philosopher Professor Peter Singer champions the moral imperative for the wealthy to give to the global poor; Julia Davies, a member of Patriotic Millionaires UK, advocates for a wealth tax, arguing that it should not be down to the rich to decide whether – and how – to give their wealth away; and author and academic Adrian Wooldridge argues that wealthy individuals are a net positive for society. Expertly moderated by journalist and broadcaster Kamal Ahmed, this conversation is a thought-provoking insight into one of the biggest decisions any parent has to make.
The Futureverse is brought to you by Intelligence Squared in partnership with Y TREE. The past is in your head. The future is in your hands. For more information visit y-tree.com/futureverse
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