subscribe
back issues
reprints
contact us
Wealth in Perspective
Wealth Management
Thought Leaders
Money and Meaning
Passion Investments
Wealth Management Sourcebook
Multifamily Office 2008
Previous Issues Index
/ Home / Editorial / Wealth Management / Investment & Risk Management /
Visions & Revisions
A Distant Mirror
Douglas McWhirter
08/02/2004


Aristocracies are pretty much, though not entirely, wiped out in Eastern Europe by a combination of Stalin and Hitler. In Western Europe they are gone by the middle of the 20th century. On the whole, it is true that they linger most successfully in Britain because Britain’s 20th-century history is a less convulsive one than the histories of almost any other European nation: there is no invasion, there is no defeat, there is no civil war, there is no scrapping of the constitution and starting all over again. Britain’s history is more gentle, and under this circumstance, aristocrats survived longer.

Evolving national economies—in 19th-century Britain, for example, the shift from agrarian to industrial—bring about a reordering of societies and classes.
While I am not an economic determinist—I do not think things are quite that simple—the fact is that changing modes of production, as Karl Marx put it, do bring about changes in social structure and changes in dominant social groups. One of the challenges for any family, be it a British aristocratic one, or an American rich one, is how to retain an elite position across long periods of time when the sources of wealth actually change.

There is no doubt that as economies evolve, modes of production and making money disappear, and they are replaced by new modes of production and new ways of making money. As a consequence of that, some elite groups that have benefited from those changes disappear as the economic structure that made them rich disappears, and new groups come into being.

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | >>
Printer Friendly Version  Email a Friend


Related Articles
» Undiscovered Country
» Err America
» Buying Time
» The Hesitant Hegemon
» The Scientific Method
 
Get a FREE ISSUE and a FREE GIFT

Simply fill out this form to receive a complimentary issue of Worth and a FREE gift ("The top 25 Questions for Your Private Banker"). If you like the magazine, you’ll pay just $36 for 5 more issues (6 in all). If it’s not for you, you can return your invoice marked "cancel", and owe nothing. The FREE issue and FREE gift are yours to keep.
Name
Address
Canadian orders click here
International orders click here

Unsubscribe from subscription emails click here