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Politics : American Presidential Politics and foreign affairs
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To: Jim S who wrote (9389)6/14/2006 5:49:21 PM
From: Peter Dierks  Read Replies (1) of 71588
 
"families who have the potential to create their own cartels."

That potential exists in humankind on more levels than we can imagine. What about the House of Saud? The (insert favorite/least favorite) Union? Congress? Any major medical group, etc.

Perhaps the danger of airline mechanics going on strike is worth the professionalism created by their union (or at leas the image of). Perhaps the risk of a family or group gaining too much power from wealth is a risk of allowing the successful the freedom to succeed.

Remember that one generation of wealth seldom projects more than a couple generations forward. My wife has a friend who is in the last generation of Vanderbilts to benefit from the original trust. That must have been three or four generations, and she is spending the money afs income. Some Vanderbilts have probably built wealth of their own. It four generations even Bill Gates' fortune will be dispersed enough to be relatively trivial. Look at the Fords.

"the 'super-successful' can present a danger to a capitalist society"

It is rare in our society. The Kennedy's are the only example I can think of. Their father was head of SEC and got laws passed to enable his father to pass through the fortune untaxed, and then undid the loopholes. How often will any family have that much influence?
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