Family wealth dictates our life choices. So is the Bank of Mum and Dad now behind so many of society’s growing inequalities?

Summary

The “Bank of Mum and Dad” drives modern inequality, fostering an “inheritocracy” where family wealth shapes opportunities over individual merit. This safety net often undermines social mobility, tying success to inheritance rather than personal effort.

Rising housing costs, wage stagnation, and unequal inheritance have entrenched this dynamic, with parental support shaping life milestones like homeownership, career paths, and education.

While early inheritances advantage some, the burden of social care costs threatens others’ expectations.

This growing reliance on family wealth exacerbates inequality within and across generations, highlighting the need for a broader societal conversation about privilege and fairness.

  • Maggoty@lemmy.world
    8·
    12 hours ago

    Call it what it is, a Neo Aristocracy. A class of landed wealth is forming that is harder to join every year and will only pay off generationally as your land accrues value.

    I’m waiting with baited breath for laws to officially enshrine the already existing double standard for wealth and justice. Some American conservatives have already started including land in their idea of voting restrictions.

    • 9488fcea02a9@sh.itjust.works
      2·
      2 hours ago

      Calling parents who can afford to help their kids out as the new “aristocrat” class is a bit of a stretch.

      I got a huge help with my down payment from my parents. But they are by no means “landed” wealthy class people. Years later they barely had enough to retire and i’m trying to help them where i can.

      Dont let the 0.1% distract you by shifting blame to other working class people. Yes, people who got big help from their parents, but we’re not old money.