G. Victor Hallman
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199549108
- eISBN:
- 9780191720734
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199549108.003.0006
- Subject:
- Business and Management, Pensions and Pension Management
Managing retirement payouts generally revolves primarily around securing adequate retirement income and assuring the continuity of such income for as long as the retirees live. Many commentators have ...
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Managing retirement payouts generally revolves primarily around securing adequate retirement income and assuring the continuity of such income for as long as the retirees live. Many commentators have suggested that the most efficient strategy to deal with these issues for risk-averse retirees is to annuitize retirement benefits. However, these commentators recognize that relatively few retirees actually choose life annuitization (the so-called ‘annuity puzzle’). One reason for this is the bequest or inheritance motive which involves using income-tax-favored retirement plans to pass wealth to the heirs (probably children) of the retiree or to charity. This chapter discusses the concepts, strategies, and constraints on using tax-favored retirement plans as wealth transfer devices.Less
Managing retirement payouts generally revolves primarily around securing adequate retirement income and assuring the continuity of such income for as long as the retirees live. Many commentators have suggested that the most efficient strategy to deal with these issues for risk-averse retirees is to annuitize retirement benefits. However, these commentators recognize that relatively few retirees actually choose life annuitization (the so-called ‘annuity puzzle’). One reason for this is the bequest or inheritance motive which involves using income-tax-favored retirement plans to pass wealth to the heirs (probably children) of the retiree or to charity. This chapter discusses the concepts, strategies, and constraints on using tax-favored retirement plans as wealth transfer devices.
Edmund Cannon and Ian Tonks
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199216994
- eISBN:
- 9780191711978
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199216994.003.0009
- Subject:
- Business and Management, Pensions and Pension Management
This chapter reports the evidence of how annuities function. It discusses the evidence on selection effects and the factors that determine whether people purchase annuities.
This chapter reports the evidence of how annuities function. It discusses the evidence on selection effects and the factors that determine whether people purchase annuities.
John Ameriks, Andrew Caplin, Steven Laufer, and Stijn Van Nieuwerburgh
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199549108
- eISBN:
- 9780191720734
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199549108.003.0011
- Subject:
- Business and Management, Pensions and Pension Management
Financial security in retirement has traditionally meant having a steady flow of annuity income as long as one lives — a definition enshrined in the Social Security system. Earlier research has ...
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Financial security in retirement has traditionally meant having a steady flow of annuity income as long as one lives — a definition enshrined in the Social Security system. Earlier research has stressed a more holistic approach, which focuses on the match between resources and spending needs. Using this formulation this chapter estimates annuity values given long-term care concerns and bequest motives, where these estimated values are consistent with low observed demand for standard annuities. The chapter extends this model to value non-standard annuities with various security-enhancing features that may be of value to retirees.Less
Financial security in retirement has traditionally meant having a steady flow of annuity income as long as one lives — a definition enshrined in the Social Security system. Earlier research has stressed a more holistic approach, which focuses on the match between resources and spending needs. Using this formulation this chapter estimates annuity values given long-term care concerns and bequest motives, where these estimated values are consistent with low observed demand for standard annuities. The chapter extends this model to value non-standard annuities with various security-enhancing features that may be of value to retirees.
R. Kerry Turner
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199248919
- eISBN:
- 9780191595950
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199248915.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Various aspects of the environmental values debate are first examined within the wider context of the sustainable economic development strategy and goal. Next, an expanded values classification is ...
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Various aspects of the environmental values debate are first examined within the wider context of the sustainable economic development strategy and goal. Next, an expanded values classification is set out in order to define the limits of the conventional environmental economics concept of total economic value (use plus non‐use values). Particular attention is paid to the definition and measurement of bequest and existence values, as well as to some recent findings in the newly emerging ‘ecological economics’ literature that have implications for resource systems valuation. The chapter concludes with some environmental conservation policy implications.Less
Various aspects of the environmental values debate are first examined within the wider context of the sustainable economic development strategy and goal. Next, an expanded values classification is set out in order to define the limits of the conventional environmental economics concept of total economic value (use plus non‐use values). Particular attention is paid to the definition and measurement of bequest and existence values, as well as to some recent findings in the newly emerging ‘ecological economics’ literature that have implications for resource systems valuation. The chapter concludes with some environmental conservation policy implications.
Michio Morishima
- Published in print:
- 1969
- Published Online:
- November 2003
- ISBN:
- 9780198281641
- eISBN:
- 9780191596667
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198281641.003.0010
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The conditions for the Golden Equilibrium have been established earlier in the book and this chapter turns to an examination of the economy for stability; it asks whether a Hicks–Malinvaud ...
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The conditions for the Golden Equilibrium have been established earlier in the book and this chapter turns to an examination of the economy for stability; it asks whether a Hicks–Malinvaud competitive equilibrium trajectory starting from the historically given initial point approaches nearer and nearer to the state of Golden Equilibrium when the order of the path gets larger. This problem, which amounts to asking whether an economy obeying the principle of competition can attain a Golden Age, is discussed repeatedly in this chapter and the following one. Convergence of this sort will be compared with another kind of convergence recently dealt with by many writers under the common heading of Turnpike Theorems, particular applications of which may occur in more or less planned economies but not in purely competitive economies. In this chapter, the simple case of ‘L‐shaped’ indifference curves is examined. The different sections of the chapter compare the Hicks–Malinvaud equilibrium trajectory (Hicks–Malinvaud equilibrium growth path) with the DOSSO‐efficient path, discuss the Final State Turnpike Theorem, offer a proof of the theorem by the jyoseki (a formula in the game of go), present a lemma by Gale, discuss the convergence to the Turnpike, discuss yosses (the final part of a game of go) of the proof and cyclic exceptions, and look at the tendency towards the Golden Equilibrium of a competitive economy with no planning authorities.Less
The conditions for the Golden Equilibrium have been established earlier in the book and this chapter turns to an examination of the economy for stability; it asks whether a Hicks–Malinvaud competitive equilibrium trajectory starting from the historically given initial point approaches nearer and nearer to the state of Golden Equilibrium when the order of the path gets larger. This problem, which amounts to asking whether an economy obeying the principle of competition can attain a Golden Age, is discussed repeatedly in this chapter and the following one. Convergence of this sort will be compared with another kind of convergence recently dealt with by many writers under the common heading of Turnpike Theorems, particular applications of which may occur in more or less planned economies but not in purely competitive economies. In this chapter, the simple case of ‘L‐shaped’ indifference curves is examined. The different sections of the chapter compare the Hicks–Malinvaud equilibrium trajectory (Hicks–Malinvaud equilibrium growth path) with the DOSSO‐efficient path, discuss the Final State Turnpike Theorem, offer a proof of the theorem by the jyoseki (a formula in the game of go), present a lemma by Gale, discuss the convergence to the Turnpike, discuss yosses (the final part of a game of go) of the proof and cyclic exceptions, and look at the tendency towards the Golden Equilibrium of a competitive economy with no planning authorities.
Raymond G. Batina and Toshihiro Ihori
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780198297901
- eISBN:
- 9780191685361
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198297901.003.0011
- Subject:
- Economics and Finance, Financial Economics
This chapter talks about the simple life cycle model. There are several models which are concerning with bequeathing and the results of policy analysis depend on the motive for bequeathing. In a ...
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This chapter talks about the simple life cycle model. There are several models which are concerning with bequeathing and the results of policy analysis depend on the motive for bequeathing. In a situation where the giving parent cares about the size of the bequest, the bequest acts like parental consumption and should be taxed under a consumption tax policy. On the contrary, if the giving parent cares about the full income of the offspring, then the bequest is more like an asset and should not be taxed under a consumption tax. This could maintain neutrality. However, if the population is made up of different people with different motives for bequeathing, it will be impossible to impose a consumption tax. Therefore, a proportional consumption tax will not be completely neutral with respect to decision-making in the existence of bequest.Less
This chapter talks about the simple life cycle model. There are several models which are concerning with bequeathing and the results of policy analysis depend on the motive for bequeathing. In a situation where the giving parent cares about the size of the bequest, the bequest acts like parental consumption and should be taxed under a consumption tax policy. On the contrary, if the giving parent cares about the full income of the offspring, then the bequest is more like an asset and should not be taxed under a consumption tax. This could maintain neutrality. However, if the population is made up of different people with different motives for bequeathing, it will be impossible to impose a consumption tax. Therefore, a proportional consumption tax will not be completely neutral with respect to decision-making in the existence of bequest.
Rosemary Sweet
- Published in print:
- 1997
- Published Online:
- October 2011
- ISBN:
- 9780198206699
- eISBN:
- 9780191677281
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198206699.003.0003
- Subject:
- History, British and Irish Early Modern History
This chapter demonstrates how urban history developed from the need to preserve records and traditions, and how they help maintain an individual town's sense of identity. It discusses the importance ...
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This chapter demonstrates how urban history developed from the need to preserve records and traditions, and how they help maintain an individual town's sense of identity. It discusses the importance of topographical surveys and chronicling traditions and their contributions to the writing of urban history in the eighteenth century. It also examines the literary lineage of urban history and the tradition of compiling annals and recording lists, which took the form of year-by-year chronicles, lists of civic officials, and ‘remarkable occurrences’. These records are accompanied by a brief commentary of events which were crucial to the existence of the town. Such noteworthy events ranged from the granting of a charter or charitable bequests to meteorological disasters or the levying of taxation. These lists and chronicles provided the starting point for almost all urban histories.Less
This chapter demonstrates how urban history developed from the need to preserve records and traditions, and how they help maintain an individual town's sense of identity. It discusses the importance of topographical surveys and chronicling traditions and their contributions to the writing of urban history in the eighteenth century. It also examines the literary lineage of urban history and the tradition of compiling annals and recording lists, which took the form of year-by-year chronicles, lists of civic officials, and ‘remarkable occurrences’. These records are accompanied by a brief commentary of events which were crucial to the existence of the town. Such noteworthy events ranged from the granting of a charter or charitable bequests to meteorological disasters or the levying of taxation. These lists and chronicles provided the starting point for almost all urban histories.
C. Y. Cyrus Chu and Ruoh‐Rong Yu
- Published in print:
- 2009
- Published Online:
- February 2010
- ISBN:
- 9780199578092
- eISBN:
- 9780191722424
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199578092.003.0011
- Subject:
- Economics and Finance, South and East Asia
Since the type of intergenerational transfers in the mainstream literature was from parents to children, the discussion focused on parents' strategies of how to use such transfers to lure a desired ...
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Since the type of intergenerational transfers in the mainstream literature was from parents to children, the discussion focused on parents' strategies of how to use such transfers to lure a desired behavior on the part of their children. The prevalent norm of filial piety in Chinese societies suggests that parents may well think otherwise. It is shown that many Chinese parents give up their “final say” by transferring all their assets inter vivos, and their children still pay visits, sometimes more frequently, after such transfers. It is hypothesized that a kinship network may play the role of disciplining the children concerning their filial attitude. The empirical evidence for Taiwan is consistent with the above conjecture, but no significant results prevail for the China sample. The latter finding may be due to the weakening of kinship structure that China has experienced since the Cultural Revolution, and the restrictions on property ownership which limit the parental control of assets.Less
Since the type of intergenerational transfers in the mainstream literature was from parents to children, the discussion focused on parents' strategies of how to use such transfers to lure a desired behavior on the part of their children. The prevalent norm of filial piety in Chinese societies suggests that parents may well think otherwise. It is shown that many Chinese parents give up their “final say” by transferring all their assets inter vivos, and their children still pay visits, sometimes more frequently, after such transfers. It is hypothesized that a kinship network may play the role of disciplining the children concerning their filial attitude. The empirical evidence for Taiwan is consistent with the above conjecture, but no significant results prevail for the China sample. The latter finding may be due to the weakening of kinship structure that China has experienced since the Cultural Revolution, and the restrictions on property ownership which limit the parental control of assets.
ELAINE CLARK
- Published in print:
- 1996
- Published Online:
- October 2011
- ISBN:
- 9780198201908
- eISBN:
- 9780191675065
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198201908.003.0006
- Subject:
- History, British and Irish Medieval History, Social History
This chapter examines the terms and conditions of the transactions arranged by the dying and the buyers of their land. The dying were not without choices when settling estates. The sale of land ...
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This chapter examines the terms and conditions of the transactions arranged by the dying and the buyers of their land. The dying were not without choices when settling estates. The sale of land remained subject to practical limitations imposed by the demands of lordship and subsistence needs of family and kin. However, the mortally ill still had the option of disposing of property to meet personal needs. Consequently, when pious villagers requested the sale of land, they also asked administrators to raise and distribute money for the faithful departed, including parents, spouses, and friends. Moreover, the dying often explained how money generated by the sale of land was to be channelled into alms and ‘good works’ to benefit the poor.Less
This chapter examines the terms and conditions of the transactions arranged by the dying and the buyers of their land. The dying were not without choices when settling estates. The sale of land remained subject to practical limitations imposed by the demands of lordship and subsistence needs of family and kin. However, the mortally ill still had the option of disposing of property to meet personal needs. Consequently, when pious villagers requested the sale of land, they also asked administrators to raise and distribute money for the faithful departed, including parents, spouses, and friends. Moreover, the dying often explained how money generated by the sale of land was to be channelled into alms and ‘good works’ to benefit the poor.
Richard Symonds
- Published in print:
- 1992
- Published Online:
- October 2011
- ISBN:
- 9780198203001
- eISBN:
- 9780191675645
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198203001.003.0010
- Subject:
- History, British and Irish Modern History
This chapter examines the role of Cecil Rhodes in the improvement of the University of Oxford. It discusses Rhodes entering Oxford, his career highlights, and his bequests to the university. It ...
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This chapter examines the role of Cecil Rhodes in the improvement of the University of Oxford. It discusses Rhodes entering Oxford, his career highlights, and his bequests to the university. It explains that Rhodes' magnificent bequests stimulated discussion outside and inside Oxford about the university's role as a great Imperial university. However, Rhodes believed that Oxford should not be used to promote cultural imperialism and to impose or inculcate English standards as universal standards.Less
This chapter examines the role of Cecil Rhodes in the improvement of the University of Oxford. It discusses Rhodes entering Oxford, his career highlights, and his bequests to the university. It explains that Rhodes' magnificent bequests stimulated discussion outside and inside Oxford about the university's role as a great Imperial university. However, Rhodes believed that Oxford should not be used to promote cultural imperialism and to impose or inculcate English standards as universal standards.
Pat Jalland
- Published in print:
- 1996
- Published Online:
- October 2011
- ISBN:
- 9780198201885
- eISBN:
- 9780191675058
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198201885.003.0015
- Subject:
- History, British and Irish Modern History
This chapter focuses on the role of memories in the grieving process of Christians and unbelievers in the 19th century. Memories in the 19th century were seen as playing a significant role in the ...
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This chapter focuses on the role of memories in the grieving process of Christians and unbelievers in the 19th century. Memories in the 19th century were seen as playing a significant role in the dynamics of grief as they aided in mourning, provided consolation, and served as a positive power that influenced the survivors for good. The memories of the dead in earlier times were not constrained alone to talking and discussing the goodness of the deceased with families and friends but also included writings, testimonies, and memoirs. Aside from briefly discussing written memoirs, the chapter also discusses the emergence of external symbols that served as memories. Such external symbols came in the forms of photographs, drawings, portraits, and death masks. The chapter also discusses the act of grave-visiting wherein the gave became a site for remembrance and meditation for the bereaved. The chapter also looks at the commemorative bequests and the increasing legal rights of the women to write wills and bestow inheritance.Less
This chapter focuses on the role of memories in the grieving process of Christians and unbelievers in the 19th century. Memories in the 19th century were seen as playing a significant role in the dynamics of grief as they aided in mourning, provided consolation, and served as a positive power that influenced the survivors for good. The memories of the dead in earlier times were not constrained alone to talking and discussing the goodness of the deceased with families and friends but also included writings, testimonies, and memoirs. Aside from briefly discussing written memoirs, the chapter also discusses the emergence of external symbols that served as memories. Such external symbols came in the forms of photographs, drawings, portraits, and death masks. The chapter also discusses the act of grave-visiting wherein the gave became a site for remembrance and meditation for the bereaved. The chapter also looks at the commemorative bequests and the increasing legal rights of the women to write wills and bestow inheritance.
Eric Rakowski
- Published in print:
- 1993
- Published Online:
- October 2011
- ISBN:
- 9780198240792
- eISBN:
- 9780191680274
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198240792.003.0007
- Subject:
- Philosophy, Political Philosophy
Gifts and bequests have the potential to create large disparities in people's holdings, especially when their effects are compounded over time. It would be undesirable to either forbid them ...
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Gifts and bequests have the potential to create large disparities in people's holdings, especially when their effects are compounded over time. It would be undesirable to either forbid them altogether or put a cap on donations. This chapter addresses the major challenge of what measures, if any, justice requires to correct inequalities produced by gratuitous transfers of wealth or the unrecompensed provision of services. The discussions outline the implications of justice with regard to gifts between members of an otherwise just community.Less
Gifts and bequests have the potential to create large disparities in people's holdings, especially when their effects are compounded over time. It would be undesirable to either forbid them altogether or put a cap on donations. This chapter addresses the major challenge of what measures, if any, justice requires to correct inequalities produced by gratuitous transfers of wealth or the unrecompensed provision of services. The discussions outline the implications of justice with regard to gifts between members of an otherwise just community.
Mary Beth Combs
- Published in print:
- 2011
- Published Online:
- September 2011
- ISBN:
- 9780199593767
- eISBN:
- 9780191728815
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199593767.003.0004
- Subject:
- Business and Management, Business History
The chapter examines the saving and investment decisions of nineteenth-century British shopkeepers using data on 332 census-linked probated decedents dying between 1859 and 1891. Previous research ...
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The chapter examines the saving and investment decisions of nineteenth-century British shopkeepers using data on 332 census-linked probated decedents dying between 1859 and 1891. Previous research indicates that the nineteenth-century US agricultural sector experienced a transition from bequest saving to life-cycle saving. The chapter tests the potential impact of bequest, life-cycle, and deferred compensation motives on wealth-holding to determine whether late nineteenth-century British shopkeepers reached the transition stage between bequest and/or deferred compensation to life-cycle saving, as shown by Roger Ransom and Richard Sutch for the case of the US agricultural sector. The results reveal evidence of an altruistic bequest motive.Less
The chapter examines the saving and investment decisions of nineteenth-century British shopkeepers using data on 332 census-linked probated decedents dying between 1859 and 1891. Previous research indicates that the nineteenth-century US agricultural sector experienced a transition from bequest saving to life-cycle saving. The chapter tests the potential impact of bequest, life-cycle, and deferred compensation motives on wealth-holding to determine whether late nineteenth-century British shopkeepers reached the transition stage between bequest and/or deferred compensation to life-cycle saving, as shown by Roger Ransom and Richard Sutch for the case of the US agricultural sector. The results reveal evidence of an altruistic bequest motive.
Clive Brown
- Published in print:
- 2003
- Published Online:
- October 2013
- ISBN:
- 9780300095395
- eISBN:
- 9780300127867
- Item type:
- chapter
- Publisher:
- Yale University Press
- DOI:
- 10.12987/yale/9780300095395.003.0020
- Subject:
- Music, History, Western
Heinrich Blümner, a Leipzig lawyer who died on February 13, 1839, left a bequest of 20,000 thalers for “the founding of a new, or the support of an existing all-purpose national institution for the ...
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Heinrich Blümner, a Leipzig lawyer who died on February 13, 1839, left a bequest of 20,000 thalers for “the founding of a new, or the support of an existing all-purpose national institution for the arts or science.” The bequest was to be disposed of by the king of Saxony, who was petitioned by Felix Mendelssohn through his minister Baron Johann Paul von Falkenstein, to use the money for a music school. Mendelssohn argued that such a school would allow gifted young musicians from poor backgrounds to obtain training. Although the king was in favor of the suggestion, it took another three years for the plan to become a reality. Blümner's vision came in the form of the Leipzig Conservatorium.Less
Heinrich Blümner, a Leipzig lawyer who died on February 13, 1839, left a bequest of 20,000 thalers for “the founding of a new, or the support of an existing all-purpose national institution for the arts or science.” The bequest was to be disposed of by the king of Saxony, who was petitioned by Felix Mendelssohn through his minister Baron Johann Paul von Falkenstein, to use the money for a music school. Mendelssohn argued that such a school would allow gifted young musicians from poor backgrounds to obtain training. Although the king was in favor of the suggestion, it took another three years for the plan to become a reality. Blümner's vision came in the form of the Leipzig Conservatorium.
Rhian Powell
- Published in print:
- 2020
- Published Online:
- May 2021
- ISBN:
- 9781447354833
- eISBN:
- 9781447354857
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781447354833.003.0009
- Subject:
- Political Science, Democratization
In this chapter, Rhian Powell examines the perspectives and priorities of older people when thinking about the legacy they will leave after their death. She draws on semi-structured interviews with ...
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In this chapter, Rhian Powell examines the perspectives and priorities of older people when thinking about the legacy they will leave after their death. She draws on semi-structured interviews with twenty-two people willing to discuss whether or not they intend to leave a legacy gift to charity in their will. The research shows that decisions to leave a charitable bequest are complex and require the donor to balance a number of potentially competing obligations – particularly between the family, civil society and the state. When participants think about their inheritance, considerations about these competing institutions are strongly connected and consequently how participants think about one will affect their views on the others. For this reason, it is impossible to only discuss participants’ attitudes towards civil society without also considering their attitudes towards family and the state.Less
In this chapter, Rhian Powell examines the perspectives and priorities of older people when thinking about the legacy they will leave after their death. She draws on semi-structured interviews with twenty-two people willing to discuss whether or not they intend to leave a legacy gift to charity in their will. The research shows that decisions to leave a charitable bequest are complex and require the donor to balance a number of potentially competing obligations – particularly between the family, civil society and the state. When participants think about their inheritance, considerations about these competing institutions are strongly connected and consequently how participants think about one will affect their views on the others. For this reason, it is impossible to only discuss participants’ attitudes towards civil society without also considering their attitudes towards family and the state.
Christine Walker
- Published in print:
- 2020
- Published Online:
- May 2021
- ISBN:
- 9781469658797
- eISBN:
- 9781469655284
- Item type:
- chapter
- Publisher:
- University of North Carolina Press
- DOI:
- 10.5149/northcarolina/9781469658797.003.0005
- Subject:
- History, Latin American History
Drawing on 1,200 colonial wills made between 1670 and 1760, Chapter Four explores the inheritance strategies devised by colonists to cope with Jamaica’s catastrophic mortality rates. Free families ...
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Drawing on 1,200 colonial wills made between 1670 and 1760, Chapter Four explores the inheritance strategies devised by colonists to cope with Jamaica’s catastrophic mortality rates. Free families divided estates more equitably between male and female heirs and took measures to protect married women’s property, especially in the form of enslaved people. Loosening the gendered practices that governed marriage and inheritance enabled colonists to secure their property, and captive Africans in particular, from one generation to the next. These legal alterations influenced the lives of enslaved people, who were treated as moveable property. Thus, they became a form of gendered currency used by colonial families to support female kin. Cumulatively, colonists’ bequests transferred considerable wealth into women’s hands and deepened their involvement in slavery. Female heirs, in turn, used the fruits of inheritance to purchase more enslaved Africans, further tying the material wealth of colonial families to the Atlantic slave trade.Less
Drawing on 1,200 colonial wills made between 1670 and 1760, Chapter Four explores the inheritance strategies devised by colonists to cope with Jamaica’s catastrophic mortality rates. Free families divided estates more equitably between male and female heirs and took measures to protect married women’s property, especially in the form of enslaved people. Loosening the gendered practices that governed marriage and inheritance enabled colonists to secure their property, and captive Africans in particular, from one generation to the next. These legal alterations influenced the lives of enslaved people, who were treated as moveable property. Thus, they became a form of gendered currency used by colonial families to support female kin. Cumulatively, colonists’ bequests transferred considerable wealth into women’s hands and deepened their involvement in slavery. Female heirs, in turn, used the fruits of inheritance to purchase more enslaved Africans, further tying the material wealth of colonial families to the Atlantic slave trade.
John Hudson
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780198260301
- eISBN:
- 9780191740640
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198260301.003.0005
- Subject:
- Law, Legal History, Constitutional and Administrative Law
Throughout the period covered by this book, control of land underlay the exercise of royal and aristocratic power. This chapter discusses types of land; landholding, lordship, and dependent tenure; ...
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Throughout the period covered by this book, control of land underlay the exercise of royal and aristocratic power. This chapter discusses types of land; landholding, lordship, and dependent tenure; security of possession, inheritance, bequests of land and the Anglo-Saxon will, alienability, and church lands. Much remains obscure in the history of late Anglo-Saxon land law, particularly outside the best-documented aspects of bookland and loanland. The degree of regional or, particularly at lower social levels, more local variation in custom is impossible to establish. It seems certain that the origins of northern tenures such as drengage are pre-Conquest. However, it is far from clear, for example, that folkland existed throughout England or even outside Wessex and Kent. The terms on which Scandinavian settlers distributed lands amongst themselves remain obscure.Less
Throughout the period covered by this book, control of land underlay the exercise of royal and aristocratic power. This chapter discusses types of land; landholding, lordship, and dependent tenure; security of possession, inheritance, bequests of land and the Anglo-Saxon will, alienability, and church lands. Much remains obscure in the history of late Anglo-Saxon land law, particularly outside the best-documented aspects of bookland and loanland. The degree of regional or, particularly at lower social levels, more local variation in custom is impossible to establish. It seems certain that the origins of northern tenures such as drengage are pre-Conquest. However, it is far from clear, for example, that folkland existed throughout England or even outside Wessex and Kent. The terms on which Scandinavian settlers distributed lands amongst themselves remain obscure.
John Hudson
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780198260301
- eISBN:
- 9780191740640
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198260301.003.0006
- Subject:
- Law, Legal History, Constitutional and Administrative Law
Anglo-Saxons made a distinction between movables and land. Both, in differing ways, were clearly very important in the economy and in social relations. Narrative material for law regarding movables ...
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Anglo-Saxons made a distinction between movables and land. Both, in differing ways, were clearly very important in the economy and in social relations. Narrative material for law regarding movables is extremely limited. The laws themselves largely concentrate on sales and theft. This chapter discusses ownership, control of movables; alienability, succession, and bequest; and sale. Although perhaps in some ways simpler than matters concerning land, those concerning movables take up much more space within the laws and probably constituted much more of the business of courts. When considering the role of kings and the procedures of courts, dealing with theft of movables was central to ideas of the maintenance of order in Anglo-Saxon England.Less
Anglo-Saxons made a distinction between movables and land. Both, in differing ways, were clearly very important in the economy and in social relations. Narrative material for law regarding movables is extremely limited. The laws themselves largely concentrate on sales and theft. This chapter discusses ownership, control of movables; alienability, succession, and bequest; and sale. Although perhaps in some ways simpler than matters concerning land, those concerning movables take up much more space within the laws and probably constituted much more of the business of courts. When considering the role of kings and the procedures of courts, dealing with theft of movables was central to ideas of the maintenance of order in Anglo-Saxon England.
Tullio Jappelli and Luigi Pistaferri
- Published in print:
- 2017
- Published Online:
- October 2017
- ISBN:
- 9780199383146
- eISBN:
- 9780199383160
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199383146.003.0012
- Subject:
- Economics and Finance, Macro- and Monetary Economics
The study of bequests is crucial to distinguishing between different models of intertemporal choice. Various explanations of individual attitudes toward bequests have been proposed. In addition to ...
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The study of bequests is crucial to distinguishing between different models of intertemporal choice. Various explanations of individual attitudes toward bequests have been proposed. In addition to altruism, the literature has considered strategic bequests, in which intergenerational transfers are a reward for services provided by the heir, and models in which bequests, like any other good, directly influence utility. We first clarify the distinction between altruistic and strategic bequest motives. Next we consider the choice between bequests and gifts. Then we derive the Euler equation when bequests are an argument of the utility function (a model with “joy of giving”). In the second part of the chapter we address the difficult issues of how to measure bequests and how to tell the different bequest motives apart empirically, and discuss the link between transfer taxes and the accumulation of wealth.Less
The study of bequests is crucial to distinguishing between different models of intertemporal choice. Various explanations of individual attitudes toward bequests have been proposed. In addition to altruism, the literature has considered strategic bequests, in which intergenerational transfers are a reward for services provided by the heir, and models in which bequests, like any other good, directly influence utility. We first clarify the distinction between altruistic and strategic bequest motives. Next we consider the choice between bequests and gifts. Then we derive the Euler equation when bequests are an argument of the utility function (a model with “joy of giving”). In the second part of the chapter we address the difficult issues of how to measure bequests and how to tell the different bequest motives apart empirically, and discuss the link between transfer taxes and the accumulation of wealth.
Catherine Richardson
- Published in print:
- 2006
- Published Online:
- July 2012
- ISBN:
- 9780719065446
- eISBN:
- 9781781701164
- Item type:
- chapter
- Publisher:
- Manchester University Press
- DOI:
- 10.7228/manchester/9780719065446.003.0003
- Subject:
- Literature, 16th-century and Renaissance Literature
This chapter investigates the relationship between domestic spaces, household objects and the individuals who owned them, examining the manner in which those individuals furnished their houses and ...
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This chapter investigates the relationship between domestic spaces, household objects and the individuals who owned them, examining the manner in which those individuals furnished their houses and their attitudes towards their possessions against the way they talked about domestic life. Although the method is historical in the disciplinary sense, the chapter is literary in its presentation: in the way it privileges the qualitative over the quantitative in order to find a narrative form that gives the extensive statistical data meaning in terms of contemporary perceptions of status, lifecycle and gender within the household. It explores the way objects mediate social relations, but those of affect rather than production and consumption, and analyses individuals' descriptions of their household as evidence of broader cultural patterns of thought about domestic materiality. Such information is important for an understanding of domestic tragedy in several ways. The chapter also discusses domestic goods as bequests, the language of bequests, objects and spaces, biographies of domestic possession and narratives of the house.Less
This chapter investigates the relationship between domestic spaces, household objects and the individuals who owned them, examining the manner in which those individuals furnished their houses and their attitudes towards their possessions against the way they talked about domestic life. Although the method is historical in the disciplinary sense, the chapter is literary in its presentation: in the way it privileges the qualitative over the quantitative in order to find a narrative form that gives the extensive statistical data meaning in terms of contemporary perceptions of status, lifecycle and gender within the household. It explores the way objects mediate social relations, but those of affect rather than production and consumption, and analyses individuals' descriptions of their household as evidence of broader cultural patterns of thought about domestic materiality. Such information is important for an understanding of domestic tragedy in several ways. The chapter also discusses domestic goods as bequests, the language of bequests, objects and spaces, biographies of domestic possession and narratives of the house.
