It's becoming increasingly apparent some new Koch Brothers are on the loose in Washington, lavishing money on liberals and conservatives alike. Like the Brothers K, they got rich on filthy fossil fuel revenues, and are using their booty to buy up think tanks, lobbyists and the best law firms. For good measure, they're tossing some of the nation's top liberal institutions into their shopping carts, too.
Not only will these millennial inheritors likely look for a new financial advisor to manage their money, as opposed to sticking with the family advisor, they will also want to ensure their money positively impacts society, and they tend to crave intimate involvement with the causes they support. This could transform charitable giving.
Big challenges lie ahead for the emerging economies. To avoid serious social and political pressures, growth has to be not only rapid, but broad based and equitable, in the sense that if there are steep income increases for some accompanying rapid growth, they must be perceived as deserved by effort and job creation, and not due to exploitation of rents or political favours.