it doesn’t feel as insane today bc 1) 19th century set the precedent and 2) our poorest are also far richer. journalists go after the wealth gap today, but nothing like the guilded age. easier to attack the rich when the poor don’t have plumbing or food imo
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Goes to show the gap in understanding of wealth gap versus baseline dynamic growth. Gap will always exist.
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imo it was mostly about income inequality!
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Yes, but the average wage was also significantly smaller. When you compare the wealth of two classes he was much wealthier. Also he gave away a huge portion of his wealth to charities and institutions
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Dare I bring up the subject of USD vs Gold?
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as mentioned, the figure has been adjusted
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Also interesting to see him/his progress from the perspective of laying the foundation for those 600 billionaires. Something I love about stories/historical accounts from that era is how raw and fertile the country feels.
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Also illuminates history of competition. When there’s no real “wealth” by modern standards, the ambitious get power physically/politically. Conquest, assassinations, East India Company-style corporate sovereignty. Takes a lot of wealth to constrain ambition to $$$.
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I think his wealth was equivalent to 2% of GDP.
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Neither are the owners of it. Take a look at richest 600 then vs. the richest 600 today. Better yet, try just a ten years and see how many of the names are the same.
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