IFS Zooms In: The Economy Family values: inheritance, inequality and social mobility
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Mar 3, 2025 In this insightful discussion, Eliza Filby, a best-selling author of "Inheritocracy," and David Sturrock, a Senior Research Economist at the IFS, tackle the widening divide between baby boomers and younger generations. They explore how inheritance shapes social mobility, emphasizing the reliance of millennials and Gen Z on familial support for significant life milestones. The guests also dive into the implications of wealth concentration and the challenges of stagnant earnings, highlighting the urgent need for reforms to bridge the wealth gap and elevate opportunities for future generations.
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Introducing Inheritocracy
- Paul Johnson introduces Eliza Filby, author of "Inheritocracy," and David Sturrock, an IFS economist.
- He highlights the book's title and sets the stage for a discussion on wealth, inheritance, and social mobility.
Eliza Filby's Inspiration
- Eliza Filby, author of "Inheritocracy," couldn't afford to live where she grew up despite her education.
- Her parents' savvy property purchase highlighted the generational wealth divide and inspired her book.
The Inheritocracy Trend
- Wealth has grown faster than earned incomes since the 1980s, leading to increased dependence on inheritance.
- This trend has reversed increasing social mobility of the 20th century, raising concerns about inheritocracy.
