Spain has 246,000 super-net-worth individuals, defined as those with at least $30 million in convertible assets. This represents 0.51% of the country's population. Three-quarters of these individuals owe their fortune to the efforts, vision, or luck of an ancestor, who accumulated their wealth.

I'm returning to a topic I discussed four years ago (10/23/21). I'll start with an example. In a, let's say, imaginary country, a school teacher's career consists of two stages. The first is university education, which is generally undemanding but sufficient for entry into the education system without an additional selection process. The second, once the teacher has entered the system, is a career progression that, in practice, is simply based on seniority. It shouldn't surprise us that under these conditions, this country's system doesn't attract enough good teaching vocations. They aren't encouraged. The social cost is high.