|Top 10 in the Fortune 500 by generation|
The fleeting nature of wealth is captured in the cliché "Shirt-sleeves, suit, shirt-sleeves". One generation creates the wealth. Then next dissipates it. The third generation is back to being a working stiff.
If you look at the Fortune 500 you see that it is dominated by extractive and basic manufacturing industries in 1960 and 1980.
Forty years later half of the companies in those industries have been bumped off the Top 10 by retail, financial and data companies.
History accelerates. The next 20 years sweeps in healthcare and insurance type companies. The only firm that survived in the Top 10 was Exxon-Mobil and that is because the two of them merged.
Graft and Corruption
Looking at Graft and Corruption as an industry, how long will it be a significant generator of wealth for those in a position to exploit it?
Is Graft and Corruption a viable, long-term business model for Crack-pipe Hunter and his ilk?
Graft and Corruption is a cost like a tax or a toll-gate. Businesses and households quickly adapt to figure out ways to avoid those taxes.
How to destroy multi-generational wealth (source)
- Concentration of wealth in a single business, sector, or geography
- Excessive use of debt
- Excessive consumption
- Growth in the numbers of family members drawing down wealth
- Divorce and other litigation
- Inadequate preparation of heirs
- Poor decision making / inability to delay gratification
What do you think? Will Biden, Pelosi, Feinstein, Harris, McConnell, Occasional-Cortex and the rest of the rascals avoid those landmines?