The citation is against money not being able to buy happiness. Indeed, most of the research shows it does a pretty good job of working at that task. Now, the same research does show diminishing returns.
And, there is the whole statistical abnormality of this story. For every person that fits in this story, I suspect there are countless that could use an extra 10 dollars.
Am I saying that I envy these poor children? Of course not. I just view this as a story that you can not really use in any informative way. Name one decision that you will change based on this information?
Your might find it worth reading back-to-back biographies of the Vanderbilts and Rockefellers. The Vanderbilts' wealth created generations of horror. The Rockefellers did much better: generally functional families and several descendants making solid contributions to the world. It's clear enough from the books where the difference comes from. If you raise your kids right, inheritance is not a bad thing.
And, there is the whole statistical abnormality of this story. For every person that fits in this story, I suspect there are countless that could use an extra 10 dollars.
Am I saying that I envy these poor children? Of course not. I just view this as a story that you can not really use in any informative way. Name one decision that you will change based on this information?