- Confession ... I saw this article when I woke up in the morning and checked my email while lying in bed, using my iPhone. You'll see why this is relevant if you follow the link.
- The great intergenerational transfer of wealth has been a big idea in philanthropy for the last decade, although I've always been something of a skeptic. The idea is that the generation now close to death (to put it rather bluntly) has a lot of money to pass down, and hopefully a lot of it will go to charity. How much is a lot? $41 trillion. My skepticism arises from wondering (first) to what extent people will pass down their money, rather than spending it in their lifetimes, and (second) whether they'll do much for charity as opposed to giving it to their heirs. (This could be in the form of living gifts rather than bequests.) Third, I'm just a pessimist about the future.
But now it occurs to me that in the current economic crisis, my third reason for skepticism was much more on target than I thought it was - our inability to predict most things is starkly visible to all of us now. With the economy in the toilet, how much of that $41 trillion still exists?