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Marcia Boisvert is currently reading it Jan 14, Kim marked it as to-read Nov 23, TracyG added it Nov 25, Bookish Enchantment marked it as to-read Dec 02, Maggpie marked it as to-read Jan 02, Ginny Skarsten marked it as to-read Feb 14, Phyllis marked it as to-read Nov 04, Cathy marked it as to-read Nov 27, Elaine marked it as to-read Nov 23, June marked it as to-read Nov 25, Campbell added it Dec 08, Cathlin added it Dec 11, Laura marked it as to-read Dec 29, Beckie marked it as to-read Feb 05, Em added it Feb 09, Cheryl added it Mar 29, Anthea marked it as to-read Apr 01, Jan added it Apr 01, Cheryl marked it as to-read Apr 07, Carl Larson marked it as to-read Jul 06, Lew marked it as to-read Mar 07, Lisa marked it as to-read Mar 14, Becky marked it as to-read Jun 04, H marked it as to-read Aug 02, Retrieved December 18, Lundberg, 92, Author Who Wrote of the Rich".
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Archived from the original on January 4, America's 60 Families by Ferdinand Lundberg". Retrieved February 17, Saturday Review of Literature. The Curse of Bigness and the Failure of Antitrust". University of Michigan Journal of Law Reform. Retrieved January 24, Retrieved February 18, Ferdinand Lundberg wrote a book in the '30s that was one of the greatest examples of political reporting.
It's called America's 60 Families.
Introducing the Richest Family in America
It's about how 60 families controlled 95 percent of the wealth in the United States. I came across that book as I was researching the robber barons and I thought it was the greatest book.
Socialism and American Life. The United States and Fascist Italy: The Rise of American Finance in Europe.
America's 60 Families - Wikipedia
Rockefeller , whose father was a traveling peddler , rather than inheritance. In contrast to the nouveau riche , the upper-upper class were families viewed as "quasi-aristocratic" and "high-society". In many cases, especially in Virginia , Maryland , and the Carolinas the source of these families wealth were vast tracts of land granted to their ancestors by the Crown and or acquired by headright during the colonial period. These families sometimes known as American gentry produced several Founding Fathers of the United States and a number of early U.
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During the early 20th century, the upper-upper class were seen as more prestigious than the nouveau riche. American "Old money" families tend to adhere to various Mainline Protestant denominations; Episcopalians  and Presbyterians are most prevalent. Although many "old money" individuals do not rank as high on the list of Forbes richest Americans as they once did, their wealth continues to grow. Many families increased their holdings by investment strategies such as the pooling of resources.
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- Old money - Wikipedia!
When adjusted for inflation, the actual dollar wealth of many of these families has shrunk since the 30s. From a private wealth manager 's perspective, "old money" can be classified into two: The former includes inheritors who, despite the inherited wealth at their disposal or that which they can access in the future, choose to pursue their own career or set up their own businesses.
On the other hand, passive "old money" are those who are the idle rich or those who are not wealth producers. These fall under the category "new money" those not from traditionally wealthy families. Economists assert that the largest transfer of wealth [ clarification needed ] will be as the older generation leaves wealth to the baby boomers.
Stephen Haseler argues that America is becoming an inheritance culture in which much economic opportunity is from family inheritance and not personal achievement. The Rothschild family , as an example, established finance houses across Europe from the 18th century and was ennobled by the Habsburg Emperor and Queen Victoria. Throughout the 19th century, they controlled the largest fortune in the world, in today's terms many hundreds of billions.
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The family has, at least to some extent, maintained its wealth for over two centuries. The Rothschilds were not, however, considered "old money" by their British counterparts. In Britain , the term generally exclusively refers to the landed gentry , usually the aristocracy and nobility who traditionally live off the land inherited paternally. Notably between the newspaperman Sir Richard Carlisle and the heiress Lady Mary Crawley , the distinction being the aggression of the parvenu Sir Richard and the noblesse oblige of the Crawleys.
Perhaps the greatest literary critique of the tension between Old Money and New Money can be found in F. Scott Fitzgerald 's The Great Gatsby.