[perfectlyfrank]

"Only the man who does not need it, is fit to inherit wealth--the man who would make his own fortune no matter where he started. If an heir is equal to his money, it serves him; if not, it destroys him." - I think she's still basing it on merit. While I disagree with some of what she says, and she says a lot, she does a decent job of staying consistent.

[j1o1h1n]

Rather teleological argument from Ms Rand. If the heir manages to keep the inheritance, then they deserved it, however if they lose it, they weren't worthy. Perhaps a new "Ayn Rand" inheritance tax is in order; those heirs who fail to double their inheritance within, say, 5 years, must donate them to needy, friendless orphans, these then have their chance for five years. Imagine all the stimulating entrepreneurship! Now excuse me while I go patent some alloys.

[fauigerzigerk]

It would be consistent if everyone who was fit to inherit actually did inherit. But that is not the case. Some of those who are fit do not inherit and others do. What is the basis for this inequality? Birth.

She destroys the idea of meritocracy that she herself presented so eloquently and discredits libertarianism as yet another excuse for those born wealthy to keep their wealth.

If an hair is not equal to his money it destroys him? Come on, what does it even mean to be "equal to money"? And how can someone who does not inherit wealth even prove that he or she is "equal to the money"? That's just the kind of fluffy nonsense that moral philosophers are so infamous for.

[NoBSWebDesign]

I don't think you would enjoy reading Rand (either you haven't yet read any of her work and are going based solely on what you read in this thread, or you just completely didn't understand her work).

As she argues, money is a means of trading human production and value. To be equal to your money is to provide production and value to society equal to the value of your money. According to Rand, if one who is barely capable of ever making more than $30k per year were to inherit $5m, it would not end well. And actually lottery statistics support this pretty consistently.

[fauigerzigerk]

How does that explain why it is consistent that some get the opportunity to start out wealthy and some do not?

You don't seem to get what I'm saying at all. Among those who are willing and able to provide production value are some who get a boost from inherited wealth and some who do not.

Do you consider that fair or consistent with a merit based society? I do get perfectly well what Ayn Rand says in her books, and based on that her stance on inheritance is grotesque.

[NoBSWebDesign]

I think that according to Rand, fairness is a moot point when it comes to this situation. She is saying that if you are capable of achieving wealth, then you will achieve it no matter where you start from in our society. She also explains that those who are capable of achieving are concerned only with their own achievements and awards, and those of others only so far as they help to achieve their own.

If you put all of this together, you end up with the person of achievement not caring where others started (or what they inherited) in relation to themselves. Fairness only holds value when the person getting shafted cares enough to give it value.

Besides, Rand's argument is that over the long run, it really doesn't matter, as the person who is capable of producing great wealth will do so, with or without an inheritance. The person who is not will quickly squander it all and end up right back where they started. Her point is simply that an inheritance does not change one's ability to produce.

[fauigerzigerk]

Well, she's a fiction writer. Me shrugs.