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Like I can’t name a single self-made 1%er from like 1930 to 1980. The gap between late-stage robber barons and early stage neoliberals. 🤔
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Complex mechanical and electrical engineering + manufacturing? Large family businesses selling out to conglomerates? This seems like a hard thing to simplify
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There’s only one answer: Oil and Bankers that invested in Oil companies. Oil created 3 billionaires in 50-60s. Getty and Hunt were most prominent, and Mellon (Bank) family created a new ecosystem of millionaire bankers who doubled down on O&G industry.
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wheeler dealers who bribed politicians, dealt in cash, didn't pay taxes, and weren't afraid to mix a touch of liquor smuggling with a legitimate shipping business
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