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by AvenueIngres 3531 days ago
Elites that are reproducing themselves but with "old" values so-to-speak, often they have a family history of doing the same job. They work hard to maintain their living standards.

To get a little more in details wrt to the demographics: I am thinking about lawyers, physicians or researchers which have assets >5 million who had to go through the grind of tough academic programs, highly competitive and skilled professions etc.

I am opposing this to rich heirs, actors, athletes, lottery winners, just-sold-my-pizza-app-startup etc. who like to show-off their recently acquired wealth. This is not a universal example obviously, there are outliers everywhere. Only talking about trends here.

3 comments

You are describing people who are rich because they and their lineage belong to professions. That's a kind of modern aristocracy, and like most aristocracies they have good manners and obey a kind of noblesse oblige.

But also, most of the unequal laws and policies in a country are created to prop up the position of such people. E.g. house-price inflation helps only those who already own - or stand to inherit - houses.

old/new money suffices without an indicating your opinion whether people worked hard, or not.
Rich athletes? It's literally true that they work hard for their money.