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by ctchocula
1477 days ago
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One explanation could be a difference between China and the West. Historically the West relies on primogeniture where the eldest son inherits a vast majority of the fortune and other sons need to move out and build a career for themselves. Classical China OTOH would split their fortune (which for 90% of folks was land since most were farmers) between their sons. Primogeniture encourages maintaining wealth across generations through the eldest son while the latter could mean the fortune gets spread out and eventually lost within 3 generations. For example, see research by Thomas Piketty about how ppl who were rich in 16th century Italy are still absurdly rich today. |
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