Generational wealth refers to the accumulation of assets, such as property, businesses, and investments, that are passed down from one generation to the next. This type of wealth is often built over time and can provide a significant advantage to families who have access to it. Generational wealth can be used to fund education, start businesses, and provide a financial safety net for future generations.
In "How Jews Became White and What That Says About America," the author explores the impact of the GI Bill on generational wealth. The GI Bill was intended to provide educational and financial support to veterans returning from World War II. However, the bill was structured in a way that excluded many marginalized populations, including women and people of color. As a result, white men were disproportionately able to take advantage of the benefits offered by the GI Bill, including low-interest home loans and access to higher education. This allowed many white families to accumulate generational wealth that was passed down to future generations. Meanwhile, marginalized populations were left behind, unable to access the same opportunities for wealth-building. This has had a lasting impact on generational wealth in America, contributing to the racial wealth gap that exists to this day.