Keeping the family fortune: How bureaucratic practices preserve elite multigenerational wealth (Record no. 531119)
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| 000 -LEADER | |
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| fixed length control field | 01906nam a22001457a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 250725b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Shiffer-Sebba, Doron |
| 245 ## - TITLE STATEMENT | |
| Title | Keeping the family fortune: How bureaucratic practices preserve elite multigenerational wealth |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | American Sociological Review |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 90(2), Apr, 2025: p.291-317 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | How do wealthy families preserve their fortunes across generations? A historic peak in wealth inequality in the United States has inspired research on how economic elites benefit from markets, tax rates, and legal entities. However, the ongoing practices through which families maintain their fortunes across generations are less understood. Using six months of ethnographic observations at a wealth manager for the top 0.1 percent, as well as interviews with the manager’s clients and a wider sample of managers, I argue that wealthy families adopt what I call “bureaucratic practices”—activities like meetings, presentations, and signing documents—to preserve wealth intergenerationally. After erecting legal entities such as corporations, trusts, and foundations, wealth managers help wealthy families implement bureaucratic practices. These practices, which privilege bureaucratic form over substance, constitute a crucial behavioral layer atop the legal infrastructure, facilitating a greater degree of wealth preservation compared with using entities alone. Thus, preserving wealth at the top should be understood not merely as a set of discrete transfers from parents to children, but as an enduring multigenerational process of professional socialization that introduces new behaviors into family life.- Reproduced https://journals.sagepub.com/doi/full/10.1177/00031224251319001 |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Stratification, Elites, Wealth, Family. |
| 9 (RLIN) | 55758 |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | American Sociological Review |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
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| Indian Institute of Public Administration | Indian Institute of Public Administration | 2025-07-25 | 90(2), Apr, 2025: p.291-317 | AR136830 | 2025-07-25 | Articles |