"There are definitely these intergenerational transfer issues with underfunded pensions".
Social Security and Medicare are mostly intergenerational transfers, not redistributive across income groups.
In the long run, that knife will cut both ways, bleeding our system of intergenerational transfers.
Often the only savings families acquire over a lifetime is the money for their children to marry, and handing it over amounts to an intergenerational transfer of wealth.
Dr. Goldbart calls the Bay Area "ground zero for the expanded upper class," foreshadowing the "largest intergenerational transfer of wealth in history".
This is the same Mr Buffett who has very publicly advocated the retention of the estate tax to prevent intergenerational transfers of wealth.
Wealth has always paved a smooth path for the next generation, but the intergenerational transfer of opportunity may never have been as profound as it is today.
With the largest intergenerational transfer of wealth in American history now under way — the Boston College Center on Wealth and Philanthropy has estimated that $41 trillion will change hands by 2052 — Mr. LaMagna and others are reconsidering the meaning of inheritance, thinking not just about the money but about the values they want to pass with it.
With financial woes now forcing many states to rethink the relentless expansion of prisons, "this intergenerational transfer of problems should be included as an additional cost of incarceration to society," said Sarah S. McLanahan, a sociologist at Princeton University and director of a national survey of families that is providing data for many of the new studies.
Legacies hark back to an era when the elite university belonged to a network of institutions (the prep school, the military, the Episcopal Church) devoted to the intergenerational transfer of the manly virtues -- stoicism, sacrifice, loyalty, a tight spiral on the forward pass.
