From China Daily:
People are increasingly talking about “the second-generation rich” as family wealth is passed down to grown children by parents who got rich by taking advantage of the government’s policy of “letting some people get rich first” in the late 1970s and early 1980s.
People are also growing increasingly concerned about “the second-generation poor” – the adult sons and daughters of the poor who missed the golden opportunity to get rich, owing to a host of factors.
German sociologist Max Weber once remarked that the eagerly sought rare social resources fall roughly into three categories: wealth in economic terms, power in political terms and prestige in social terms. [Full Text]
Sun Liping is a professor of sociology at Tsinghua University.