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Politics : Formerly About Applied Materials

AMAT 323.62

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2:08 PM EST

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To: willcousa who wrote (42507)	2/22/2001 2:43:07 PM
From: Katherine Derbyshire	Read Replies (3) of 70976

Massive amounts of inherited wealth tend to decrease the incentive for excellence, and therefore the family's contribution to economic growth. Look at all the billions that scions of famous families have frittered away over the years. Admissions officers at Harvard freely admit that the student body is much more qualified now than it was when only rich kids could afford to go. They seem to think that government programs like the GI Bill and the various student loan and grant programs have been good for them, for the economy as a whole, and for the beneficiaries. Tell me again why mediocrity-encouraging inherited wealth, combined with cuts in programs for motivated poor people, promotes a strong economy? Katherine

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