Dr. Eliza Philby

And the one conversation I had with an economist in the UK, I think came to the right sort of conclusion, which is you don't want to kill inheritance.

You don't want to kill that aspiration of building generational wealth.

It's a really positive thing.

And it's a huge drive for a lot of people.

but you want to make it matter less.

You want to build a system that makes inheritance matter less.

So what levers do you need to pull in the economy?

How does the education system need to change?

How do you need to make nepotism not be the sort of, you know,

key mechanism of access to power, what is it that needs to be done as individuals?

Because there's always, you know, a point about individual responsibility in this, as communities, as professions, you know, but also in terms of governance and government.

There's an old sort of saying that the first generation makes it, the second generation sustains it, and the third squanders it.

And it's really interesting.

When I was writing the book, the difference I discovered talking to a first-gen wealth, someone that had made the money and someone that had inherited the money, like literally, and was then passing it on.

So if you've been an heir and then you will be someone that shares their wealth, you have a greater understanding of that responsibility of wealth, but potentially the shame that comes with that wealth, but also none of the drive that was with the builder of the wealth.

Oh, wow.

And it goes back to just full circle moment on the Nepo babies.

Yes.

Because actually there is huge burden of inheriting wealth and really difficult weight to carry if you're

You know, not just carrying the family business or potentially the family wealth.