Re: inheritance & consumption

[Basil Moore <bmoore@xxxxxxxxxxxxxxxxx>]

Doug  I did a piece on this in an early JPKE, arguing that capitalists if
they are altruistic will bequest all their wealth to their heirs, while
workers if they are altruistic will not. I would go with Summers. Basil




At 11:40 AM 3/4/96 -0400, you wrote:
>Thanks to those who offered cites on the life cycle hypothesis. I've now
>read several of the major contributions, and wonder what the assmbled
>PKians think of the debate. The numbers are pretty darn far apart, with
>Kotlikoff and Summers saying that wealth is 80% inherited and 20% hump
>saving, and Modigliani saying almost exactly the reverse. Any thoughts?
>
>Doug
>
>--
>
>Doug Henwood
>Left Business Observer
>250 W 85 St
>New York NY 10024-3217
>USA
>+1-212-874-4020 voice
>+1-212-874-3137 fax
>email: <dhenwood@xxxxxxxxx>
>web: <http://www.panix.com/~dhenwood/LBO_home.html>
>
>
>


Basil Moore, Department of Economics
Wesleyan University
685-2363