It made me want to read the book

Reader comment on: Amity Shlaes on the Robber Barons

Submitted by ben (United States), Oct 17, 2010 21:44

But two thoughts, first, Shlaes writes that Capitalism does not oppose democracy because people cannot just pass along their fortunes. If only this were true! With the Republicans trying to eliminate the estate tax, this would allow the Waltons of the world to pass down their entire fortunes if they so choose. Although there may not be Rockefellers in the Forbes 400, that is hardly proof that the Rockefellers, Vanderbilts and Carnegies aren't doing alright today. My guess is that they are just fine.

Second, today we have so blurred the line between political and market entrepreneurs. Perhaps some of the internet startups are the only true market entrepreneurs. The banks, the oil companies, defense contractors, insurance companies all rig the political system for their own benefit. It seems like a useful thing to look at, but I think this helps make a liberal's case.

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