Grasping Reality on TypePad, by Brad DeLong

Jeebus, Greg. Context, please!

The whole point of inheritance—financial, cultural, sociological—is precisely not to give everyone "the same shot". Inequality of Result + "inheritance" = Inequality of Opportunity. And that's not a good thing. Unless, that is, you think that you choose your parents, and should benefit if you were smart enough to choose them wisely...

Hoisted from February 12, 2007: May I Have My Context Back, Please? http://www.bradford-delong.com/2007/02/may_i_have_my_c.html:

About as safe as you would imagine very large leveraged organizations with profits that depend on a combination of outguessing the market and sucking up nickels on a massive scale: