Inheritance

A very rich person should leave his kids enough to do anything but not enough to do nothing. Neither susie nor I ever thought we should pass huge amounts of money along to our children. Our kids are great. But I would argue that when your kids have all the advantages anyway, in terms of how they grow up and the opportunities they have for education, including what they learn at home—I would say it’s neither right nor rational to be flooding them with money. In effect, they’ve had a gigantic head start in a society that aspires to be a meritocracy. Dynastic megawealth would further tilt the playing field that we ought to be trying instead to level.