A more obvious side effect is that you may need to have centralised price controls. As is discussed in many places, to effect the banning of inheritance you would have to ban gift giving as well, or else a gift could be given just prior to the moment of death.
To prevent gift giving, you would need to cap prices, since otherwise the parent could purchase a low cost item for a high price. For example, paying the child $1m for the 1976 Camino as described below by noonespecial.
In such a system we could presumably rely on the government to make a judgement as to what did or did not constitute inheritence, gift giving etc; but the extent to which the free exchange of goods and setting of prices was possible would be greatly restricted.
Comments
A more obvious side effect is that you may need to have centralised price controls. As is discussed in many places, to effect the banning of inheritance you would have to ban gift giving as well, or else a gift could be given just prior to the moment of death.
To prevent gift giving, you would need to cap prices, since otherwise the parent could purchase a low cost item for a high price. For example, paying the child $1m for the 1976 Camino as described below by noonespecial.
In such a system we could presumably rely on the government to make a judgement as to what did or did not constitute inheritence, gift giving etc; but the extent to which the free exchange of goods and setting of prices was possible would be greatly restricted.