Sunday, July 15, 2007

As I recall...

...they were called the Robber Barons. The NYT talks about the "new tycoons"...
Those earlier barons disappeared by the 1920s and, constrained by the Depression and by the greater government oversight and high income tax rates that followed, no one really took their place. Then, starting in the late 1970s, as the constraints receded, new tycoons gradually emerged, and now their concentrated wealth has made the early years of the 21st century truly another Gilded Age.
They make note, too, of Bill Clinton's role in polishing the gilded goose. It's worth taking in the whole thing.

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