The point of my example
Reader comment on: Cliff Asness on Compromise
in response to reader comment: The only problem is that a developed society appears from history to work with lots of regulation.
Submitted by Lyle (United States), Mar 8, 2013 11:08
These systems were home grown and not imposed on the towns. Guilds were an organic part, and the crony capitalism arose as the merchants controlled the town, taking over from the Abbots, Bishops and Nobility. Note that there was vast income inequality in the towns, according to assessment records.
So I wonder if the trends we see are a natural consequence of human nature to protect what you have if you are in a position to do so, and to ensure that your children do well. (All be it that at that time due to childhood deaths families did not dominate for more than a couple of generations)
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