Callum Williams, a Senior economics writer for The Economist, and Joan Hoey, Editorial director of the Democracy Index, dive into the changing landscape of wealth inheritance. They discuss how the baby boomer generation is reshaping wealth dynamics and the revival of cultural attitudes toward money and marriage. Joan highlights the alarming decline in global democratic practices, particularly the rise of authoritarian regimes. Plus, they explore the intriguing health benefits of ice baths, touching on the science of cold therapy.
The rise in inheritances is creating an 'inheritocracy,' where wealth accumulation through inheritance surpasses traditional high-income earnings.
The podcast explores the varied health benefits of cold exposure, highlighting a mix of anecdotal claims and scientific skepticism surrounding its effects.
Deep dives
The Importance of Site Selection for Business Expansion
Site selection is a vital step for businesses aiming to expand operations in the U.S., as it influences overall success. Companies should prioritize states with a skilled workforce, robust infrastructure, and favorable tax rates, with North Carolina emerging as a strong candidate. This state offers numerous incentives to attract businesses, including access to shovel-ready sites that facilitate swift operational setups. Additionally, the support systems in place help companies navigate the complexities of establishing a presence in the U.S. market.
The Surge of Inheritance and Its Economic Impact
Recent data highlights a significant rise in inheritances, challenging previous economic patterns where inheritance was less critical. In recent years, inheritances across wealthy nations are expected to reach six trillion dollars, which underlines a shift towards what is termed 'inheritocracy.' Economically, this shift is illustrated by disparities where individuals inheriting wealth are beginning to outpace high earners in income, indicating that wealth accumulation through inheritance has become increasingly significant. The comparison across different countries reveals that nations like France and Germany are experiencing dramatic increases in the economic impact of inheritances, emphasizing the importance of inherited wealth in modern economies.
Cold Showers: Health Claims and Scientific Insights
The benefits associated with cold showers and ice baths have gained popularity, largely due to claims made by advocates like Wim Hof, who suggest health improvements ranging from mood enhancement to immune system strengthening. While some studies indicate that cold exposure may help reduce inflammation and improve mood, results are mixed, with significant skepticism remaining about the broader claims. Research has shown that cold exposure increases neurotransmitters linked to pleasure, which provides some support for mood improvement claims. However, many of the extensive health benefits promoted remain unverified, leaving individuals to weigh the anecdotal benefits against the scientific evidence.
As the baby-boom generation starts to die and economic growth slows many more people are getting rich from family wealth. Are we returning to the age of Jane Austen? The latest EIU Democracy Index reveals what a bumper election year did to country rankings (9:36). And our correspondent takes an ice bath (16:40).