Intact families are essential to passing wealth between generations, by definition. Illegitimacy is the biggest culprit here.
Also, how much wealth has been destroyed during these riots? What treasure is accumulated in restless, crime-ridden cities that could be passed down?
Also, how much wealth has been destroyed during these riots? What treasure is accumulated in restless, crime-ridden cities that could be passed down?
Stability is essential to wealth creation. It is all but impossible to create real wealth, value that can be handed down from parents to children, in cities that have been mismanaged by corrupt establishments for generations, where crime and civil unrest are constants.
Put another way, OWNERSHIP is essential to wealth creation. Assaults on private property rights, and physical attacks on property, diminish ownership. You don't really own something if criminal gangs and mobs can loot it, or destroy its value, at any time.
Wealth is cooperative in nature. Others must recognize the value of your property, and your right to use it, sell it, or pass it down to your children. There are no prosperous families in the middle of barbarian hordes, only warlords with the strength to keep what they take.
Furthermore, wealth goes far beyond physical property and money. The reputation of a family, a lifetime of connections and accumulated knowledge, are forms of wealth too. Parents can help kids get jobs, help employers decide to take a risk on hiring them.
Parents pass along useful knowledge and habits to their children that are priceless assets. This is one reason welfare cash infusions into areas wracked by crime and illegitimacy fail. Families generally know how to use resources much more constructively than individuals.
The populations that can't accumulate or pass along family wealth are deliberately kept in that state by the poisonous ideology of the hard Left. It's agonizingly obvious today. What would destroy wealth more utterly and completely in a community than abolishing the police?
How much enduring wealth can be created in communities where people hate and fear each other, where they grow up thinking constructive labor and deferring their immediate interests are suckers' games, where nothing seems permanent or worth fighting to protect?
People who think "power" is expressed by destruction, by tearing things down and spreading fear, aren't going to build a great deal of wealth and nourish it so their children can have a good inheritance. People who think wealth is defined by flashy consumption aren't big savers.
Ask young people in communities where family wealth is scarce to describe a "wealthy" person, and I guarantee they will respond with athletes, musicians, and actors who flaunt their money by splurging on absurdly expensive luxuries. They understand "rich" better than "wealthy."
If you want people to create wealth, encourage them to build families that stay together, accumulate property and take steps to make it MORE valuable over time, and pass valued traditions along to their children. Where the opposite is encouraged, poverty is inevitable. /end
Addendum: Hard to imagine a worse message to send than claiming violent riots and massive angry protests are fine, but constructive business activity is still forbidden under coronavirus lockdown. It's the exact opposite of what restless, impoverished people need to hear.
