Labor doesn’t necessarily lead to wealth (unless you’re a vanilla marxist). A complex interplay of labor, creativity, risk and innovation lead to wealth. It’s a collective emergent phenomenon. Inheritance doesn’t generate wealth, it just passes it on to another person.
Discussion
Yes, that's why our economy is stagnating. It's easier to inherit wealth than to grow the total amount of wealth.
People will begin growing wealth again, when property prices collapse to a point where that is more profitable. And not a moment sooner.
They can actually accelerate this deflationary effect by refusing to produce wealth or consume.
This is a very true statement. You both bring up very valid points, although, I would like to add the fact that the very concept of wealth is beginning to undergo a fairly unsurprising metamorphosis of sorts. Many are beginning to realize that the currencies we currently use are worthless, or are, at least losing value fast. This newest generation is not stupid. They notice this, too. Much of are youth are becoming impatient because of this. They don't want to wait decades for an inheritance that may be worth nothing by the time they're able to receive it. Idk. It's a very complex issue and it's only gonna get worse. 🙄