Daily quote by Europe

• Static inequality is a snapshot view of inequality; it does not reflect what will happen to you in the course of your life.
  Consider that about 10 percent of Americans will spend at least a year in the top 1 percent, and more than half of all Americans will spent a year in the top 10 percent.
  This is visibly not the same for the more static—but nominally more equal—Europe. For instance, only 10 percent of the wealthiest five hundred American people or dynasties were so thirty years ago; more than 60 percent on the French list are heirs and a third of the richest Europeans were the richest centuries ago. In Florence, it was just revealed that things are even worse: the same handful of families have kept the wealth for five centuries.
  • Nassim Nicholas Taleb, Skin in the Game: Hidden Asymmetries in Daily Life (2018, Random House)