english: First, a very low rate of return due to the 1914 and 1945 war shocks, destruction of wealth, inflation, bankruptcy during the Great Depression, and all of this reduced the private rate of return to wealth to unusually low levels between 1914 and 1945.
non_english: Prvič, zelo nizko stopnjo donosa zaradi šokov vojn leta 1914 in 1945, uničenja premoženja, inflacije, bankrota med veliko depresijo, vse to je spustilo zasebno stopnjo donosa na premoženje na nenavadno nizko raven med letoma 1914 in 1945.