Wealth mountains and what they are worth

There was a headline in the Guardian last week that read:

Old People due to pass on property ‘wealth mountain’ worth 400bn

When you read the article you realise at once that it could – more accurately but less sensationally – have read:

‘Old people hope to leave their homes to their children or grandchildren.’

You could have added as a strapline ‘If care costs don’t mean everything is spent before they die’.

It’s horrible the way that the language of economics and accountancy sets the agenda for us now.

Horrible too the way that headlines like this seem designed (even in otherwise thoughtful newspapers) to emphasise the division between old and young as the new ‘haves’ and ‘have nots’.

All that will happen is that both groups are made more miserable about themselves and more distrustful of each other.

What these pieces never do is ask why the difference is there. If, as a nation, we are  so much wealthier that we were 50 years ago, why most people are poorer? Why bull markets and successful companies mean unaffordable pensions? Why decent wages are hard to come by? Why public services are so diminished?

Far easier – as always – to set people against each other and let them squabble over crumbs, while the real wealth remains unremarked and untouched.

 

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Wealth mountains and what they are worth

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