Many see young people as the losers of modern capitalism. House prices have skyrocketed, wages stagnated, and debt is way up. On average, millennials at 35 have nearly a third less wealth than boomers did at the same age. But the story is not straightforward. We’re in the early stages of the largest wealth transfer in history, with $84 trillion expected to be passed on in the US by 2045. This inheritance won’t be handed out evenly. Some will become wealthy through no effort of their own, while others without rich parents will have a radically different lifestyle. Critics argue the real disparity is not between the generations but between those who will inherit and those who won't.

Should we focus less on the generational divide and instead focus on how to make the inequality of inheritance less severe? Or by addressing the challenges of younger generations can we reduce the impact of inheritance? Then again, if the underlying problem is housing costs, could we get rid of planning and zoning and thereby reduce prices for the young and cut the wealth of older generations?

World-leading economist Mariana Mazzucato, former Chancellor Kwasi Kwarteng, and Green Party Deputy Leader Rachel Millward debate inheritance and inequality.