The Hapsburg Effect

Happy memories of the 'Old Empire' help predict capital flows in Eastern Europe.

Happy memories of the ‘Old Empire’ help predict capital flows in Eastern Europe.

The idea of a “genealogy of power,” a Nietzschean trope, has sparked fresh interest thanks to new research showing the influence of inherited wealth, as exemplified by Thomas Piketty’s best-selling “Capital in the 21st Century” and studies of the remarkable staying power of elite surnames.

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