Intelligence Squared How the Bank of Mum and Dad Took Over the Economy, with Eliza Filby
Sep 29, 2024
Eliza Filby, an academic and author of "Inheritocracy," dives into the impact of inherited wealth on modern society. She discusses how parental money influences education, housing, and even dating life, highlighting generational wealth inequality. Filby also tackles the complex topic of inheritance tax and its implications for economic equality. Additionally, she sheds light on Gen Z's approach to social mobility and caregiving roles, urging for open conversations about money and emotional dynamics within families.
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The Inheritocracy
- The inheritocracy is a society where inherited wealth defines opportunity.
- It's no longer solely about what you earn or learn, but about parental wealth.
Filby's Family Story
- Eliza Filby's parents, initially working class, acquired properties.
- This provided Filby with a safety net and later a springboard, highlighting the inheritocracy's impact.
Millennial Expectations vs. Reality
- Millennials were promised economic stability through university degrees.
- This promise became false as wages stagnated while asset values soared, emphasizing the inheritocracy's role.
