succeeding or future generations collectively: Judgment of this age must be left to posterity.
all descendants of one person: His fortune was gradually dissipated by his posterity.

1350–1400; Middle English posterite < Latin posteritās, noun derivative of posterus coming after. See posterior, -ity Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
posterity (pɒˈstɛrɪtɪ)
1.  future or succeeding generations
2.  all of one's descendants
[C14: from French postérité, from Latin posteritās future generations, from posterus coming after, from post after]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

late 14c., from O.Fr. posterité, from L. posteritatem (nom. posteritas) "the condition of coming after," from posterus "coming after, subsequent," from post "after."
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
He belongs to posterity as the instructor of future generations in the
  principles of liberty and freedom.
All presidential communication must be stored for posterity.
The flattering moniker perhaps suited the ecstasy and pomp of the occasion, but
  posterity will be the judge.
He read poems composed in his honour, he read histories of his achievements,
  and was himself witness of his fame among posterity.
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