One of the more insightful posts I’ve read in a long time is Rich Cohen’s take on generational wealth in today’s HuffPost. Money quote:

“…lately it seems like we’ve become stuck with a set of characters, in a land run by the third generation — men who think the money and the power will always be there because it always has been. Increasingly these men find themselves facing off against members of the first generation. (Think of Hugo Chavez in Venezuela, or Mahmoud Ahmadinejad in Iran). Members of the third generation always have the advantage going into these fights, which is why, over time, they almost always lose: because they do not have confidence in themselves; because they did not build the empire; because they do not know who they really are; because they believe it is impossible for them to lose.”

Sound like anyone you know?