"Just over half of European billionaires inherited their fortunes, as compared with one-third in the United States." https://www.piie.com/system/files/documents/wp16-1.pdf …
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There are two ways to get rich, inheriting money and starting new companies. Comparing the results in Europe and the US suggests that if you try to ban being rich, you suppress the latter at a higher rate than the former.https://twitter.com/johnthornhillft/status/1262138590382960643 …
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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You can also make a movie, write a song, or start a pyramid scheme.
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Paint a painting and die.
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That’s the UK. Has the UK tried to ban being rich? No.
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You may want to investigate what the top tax rate was in the UK when Microsoft was founded.
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Four of those moved to the UK *after* becoming wealthy, so it is hard to use the list as evidence about how wealth is generated here.
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This list is not the only source of data about the question. It's well known that a higher percentage of great fortunes are inherited in Europe.
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I have an alternative interpretation: If you want to get rich, start with a large unified (single) market or, if in splintered markets, exploit the complexity and leverage inheritance. Seems a fair hypothesis?
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Another hypothesis, if you have the genes to get rich, so did your parents
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the Absurdistan
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