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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (10761)	2/3/2006 12:31:04 PM
From: TimF	Respond to of 541877

That article shows that forbes & co. accept the idea that the old robber baron families are still the premier dynasties of our country. Not the wealthiest families. If they are "the premier" dynasties" it is only because the wealth of more recent entrepreneurs hasn't been around long enough for their families to really be a dynasty. And the facts of the article back up my case. Look at the wealth of these families. Single digit or very low double digit billions, and that is spread out over multiple people. These people's ancestors used to dominate huge sectors of the economy. These families don't do that any more. The fraction of GDP or total national wealth that these families' wealth represent is very small compared to that of their famous ancestors. This would still be true even if you include their charitable foundations. And this smaller % is dispersed. The wealth is spread out over more people with different ideas and agendas. The charitable foundations are influenced by not just multiple family members but also non-family members. More people controlling a smaller % of the economy. That hardly makes for a growing dominance of the economy. Its not even a steady dominance. Tim