Guido Alfani: As Gods Among Men. A History of the Rich in the West

What if you could learn from the richest people that ever lived -- both how to make money, and how to keep it once you make it. My guest has a lot to share about both pursuits. Guido Alfani is a Professor of Economic History at Bocconi University, Milan (Italy). He is also an Affiliated Scholar at the Stone Center on Socio-Economic Inequality (New York) and a Research Fellow of the Center for Economic Policy Research (CEPR, London). In the last fifteen years, Guido has focused his research on economic inequality in the long run of history and on the history of major pandemics (often combining the two topics). His most recent book, published by Princeton University Press, is dedicated to the rich, the very rich, and the super-rich, and it is entitled As Gods among Men. A History of the Rich in the West. Today — my guest takes us on a trip back in time. I love history. I strongly believe that it rhymes, and there are many patterns worth recognizing as they can help us understand the present and maybe even look into the future. Professor Alfani tells us how wealth has evolved, with different societies defining it in various ways. He introduces us to the three main paths to riches; you’ll have to listen to find out what they are. He also discusses a topic close to my heart and professional pursuits — inherited wealth throughout the ages. Guido explains how maintaining wealth over multiple generations proved to be a challenge throughout history. We take on a revolutionary role of finance, and specifically the stock market, in keeping and growing wealth among more people, including women. Speaking of women, Guido’s book offers a greater understanding of the role they played in their families, preserving fortunes, especially in times of turmoil and change. Stay tuned until the end, when my guest reveals the most consistent strategy for wealth accumulation through the centuries and leaves us with some advice on how to avoid losing wealth once we have it. It’s all music to my ears, a very special guest with a unique book that ties together many of the topics and questions that I’ve studied, observed, and experienced over the last twenty years of my career as an investment advisor to affluent families and individuals. Please help me welcome Professor Guido Alfani.https://press.princeton.edu/books/hardcover/9780691215730/as-gods-among-men Podcast Program – Disclosure Statement Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.