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Inherited Wealth
How to regulate the transfer of wealth from one generation to the next has been hotly debated among politicians, legal scholars, sociologists, economists, and philosophers for centuries. Bequeathing wealth is a vital ingredient of family solidarity. But does the reproduction of social inequality through inheritance square with the principle of equal opportunity? Does democracy suffer when family wealth becomes political power?
The first in-depth, comparative study of the development of inheritance law in the United States, France, and Germany, Inherited Wealth investigates longstanding political and intellectual debates over inheritance laws and explains why these laws still differ so greatly among these countries. Using a sociological perspective, Jens Beckert sheds light on the four most controversial issues in inheritance law during the past two the freedom to dispose of one's property as one wishes, the rights of family members to the wealth bequeathed, the dissolution of entails (which restrict inheritance to specific classes of heirs), and estate taxation. Beckert shows that while the United States, France, and Germany have all long defended inheritance rights based on the notion of individual property rights, they have justified limitations on inheritance rights in profoundly different ways, reflecting culturally specific ways of understanding the problems of inherited wealth.
The first in-depth, comparative study of the development of inheritance law in the United States, France, and Germany, Inherited Wealth investigates longstanding political and intellectual debates over inheritance laws and explains why these laws still differ so greatly among these countries. Using a sociological perspective, Jens Beckert sheds light on the four most controversial issues in inheritance law during the past two the freedom to dispose of one's property as one wishes, the rights of family members to the wealth bequeathed, the dissolution of entails (which restrict inheritance to specific classes of heirs), and estate taxation. Beckert shows that while the United States, France, and Germany have all long defended inheritance rights based on the notion of individual property rights, they have justified limitations on inheritance rights in profoundly different ways, reflecting culturally specific ways of understanding the problems of inherited wealth.
- GenresSociology
Paperback
First published November 19, 2007
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November 12, 2023
Jens Beckert defines the basics of aristocracy as built upon the three pillars of entailment (intergenerational transmission of property - typically with the stipulation that it remain intact), substitution (political position and title associated with the property) and primogeniture (entailment and substitution passing the oldest living male relative). And these three pillars rest upon the foundation of inheritance.
In the West, these issues have been confronted in a variety of ways through the centuries. Beckert traces the development of inheritance practice and law since the Enlightenment in three Western countries: France, Germany and the US. The comparison and contrast of the development associated with these three nations is extremely helpful in the clarification of both the social and political development of inheritance laws and practices over the past four-hundred years.
Beckert's interest in this work has to do with the vast amount of current wealth that is about to be transferred to subsequent generations, a concern that is not spoken or written about to the extent that it should be. Traditions and current practices of inheritance challenge conventional belief in methodilogical individulism ('boot straps' mentality- belief in the sanctity of individual merit and effort) that predominates conservative economic thought creating tension between the defense of inheritance by conservatives and their insistence that all individuals make their own way in the world.
In the West, these issues have been confronted in a variety of ways through the centuries. Beckert traces the development of inheritance practice and law since the Enlightenment in three Western countries: France, Germany and the US. The comparison and contrast of the development associated with these three nations is extremely helpful in the clarification of both the social and political development of inheritance laws and practices over the past four-hundred years.
Beckert's interest in this work has to do with the vast amount of current wealth that is about to be transferred to subsequent generations, a concern that is not spoken or written about to the extent that it should be. Traditions and current practices of inheritance challenge conventional belief in methodilogical individulism ('boot straps' mentality- belief in the sanctity of individual merit and effort) that predominates conservative economic thought creating tension between the defense of inheritance by conservatives and their insistence that all individuals make their own way in the world.
Displaying 1 of 1 review