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Founding vs Inheriting - balajis.com

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The East Coast of the United States is about inheritance.[0] That means inherited wealth, like the Du Ponts, Forbes, and Mellon families. It means inherited names, like Kennedy, Bush, and Clinton. But most of all it means inherited institutions, like the media corporations of New York and the government bodies of Washington, DC. Why call them inherited institutions? Well, the related term legacy institution is in common parlance, and a legacy is a synonym for an inheritance. But the nomenclature is useful because it focuses attention not simply on the age of these institutions (which are indeed old) but on the manner in which they select a new leader: through inheritance. One way to inherit an institution is to pass it from parent to child, along with the fortune. That's the model that the Wall Street Journal and the New York Times Company still follow, where the Murdochs and Sulzbergers named their successors from within the family. A more subtle way to inherit an institution is to wi

Founding vs Inheriting You can found an institution, or you can inherit it. Balaji May 26, 2021 Share Note: This post was originally created at 1729.com which has evolved into thenetworkstate.com . You can found an institution or you can inherit it. The East Coast of the United States is about inheritance. [ 0 ] That means inherited wealth , like the Du Ponts, Forbes, and Mellon families. It means inherited names , like Kennedy, Bush, and Clinton. But most of all it means inherited institutions , like the media corporations of New York and the government bodies of Washington, DC. Why call them

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