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Kaunisto Profile
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Registered: 01-2008
Location: Finland
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The rich stay rich - over centuries


richest families in Florence in 1427 are still the richest families in Florence
quote:

The richest families in Florence, Italy have had it good for a while—600 years to be precise.
That’s according to a recent study by two Italian economists, Guglielmo Barone and Sauro Mocetti, who after analyzing compared Florentine taxpayers way back in 1427 to those in 2011. Comparing the family wealth to those with the same surname today, they suggest the richest families in Florence 600 years ago remain the same now.

...

The study adds further evidence on how the rich remain rich. In England, researchers have previously demonstrated how a family’s status in England can persist for more than eight centuries, or more than 28 whole generations. It’s a trait shared by elite families in China, whose high status has persisted since the Mao years.

I've often thought that wealth is the modern equivalent of nobility. While western societies pride themselves about equality compared to historical class systems, I don't think chances of rise - or fall - in status haven't changed that much.

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May/31/2016, 14:22 Link to this post Send PM to Kaunisto
 
Morwen Oronor Profile
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Re:


Unless some disaster strikes, when people become enormously wealthy, they usually are able to keep it in the family for generations to come. Especially if they create trust funds rather than leaving money outright. The trouble is that you have to choose trustees very carefully, or even those can be depleted by unscrupulous managers.
Jun/2/2016, 8:23 Link to this post Send PM to Morwen Oronor
 


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