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Intelligence Squared

The Sunday Debate: How much wealth should parents pass down?

Intelligence Squared

Intelligence Squared

Arts, News, Society & Culture, News Commentary

4.21.1K Ratings

🗓️ 8 January 2023

⏱️ 47 minutes

🧾️ Download transcript

Summary

Some of the richest people in the world have decided against bequeathing their fortunes to their children; from Bill Gates and Warren Buffett, to Daniel Craig and Michael Sheen. The proponents of this view offer many arguments, including the idea that inheriting huge wealth can detrimentally impact children, distorting anything they might do with their life. They also argue that the wealthy are morally obliged to give most, or all, of their wealth away to effective causes – children, or no children. Nonetheless, historically, the vast majority of parents have decided to hand down their wealth to their children, believing it will help rather than harm them. In this episode, three leading thinkers come together to debate the motion ‘The kindest thing a parent can do for their child is to leave them nothing.’ Utilitarian philosopher Professor Peter Singer champions the moral imperative for the wealthy to give to the global poor; Julia Davies, a member of Patriotic Millionaires UK, advocates for a wealth tax, arguing that it should not be down to the rich to decide whether – and how – to give their wealth away; and author and academic Adrian Wooldridge argues that wealthy individuals are a net positive for society. Expertly moderated by journalist and broadcaster Kamal Ahmed, this conversation is a thought-provoking insight into one of the biggest decisions any parent has to make. The Futureverse is brought to you by Intelligence Squared in partnership with Y TREE. The past is in your head. The future is in your hands. For more information visit y-tree.com/futureverse Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

I mean, Sirling, and today I'm at a McCain Potato Field.

0:04.0

Being chased by a massive wasp!

0:06.0

It's just a lady bird, Ian.

0:08.0

Well, it had a real wasp in her J.

0:10.0

Why are they here?

0:12.0

Well, we plot wildflowers to help encourage wildlife, like birds and insects.

0:16.0

So, we eat McCain chips. I'm helping do some good.

0:19.0

Yeah, exactly. You're supporting the move to regenerative farming.

0:22.0

Okay, this time it's definitely a wasp. My life's in danger.

0:25.0

Ian, that's a butterfly.

0:27.0

McCain, let's all chip in.

0:30.0

Hello, I'm Ian Sirling, and I'm with one of McCain's farmers who grow their potatoes.

0:34.0

Hang on, these are odd-looking potatoes.

0:36.0

That's kale, Ian.

0:38.0

You do know you need potato to make chips, right?

0:41.0

Yes, but we don't just grow potatoes.

0:43.0

We actually rotate different crops to help keep the soil healthy.

0:46.0

So, we eat McCain chips. I'm helping do some good.

0:49.0

Exactly, yeah. You're supporting the move to regenerative farming.

0:52.0

By the way, I do know the difference between kale and potatoes.

0:56.0

Of course you do.

0:58.0

McCain, let's all chip in.

...

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