The Rich and the Super-Rich

by Ferdinand Lundberg

In the late 1930s bombshell of a book appeared which told the story of the lords of wealth and their glittering clans. It was called AMERICA'S SIXTY FAMILIES. It rocked the nation and became a classic. Lundberg showed how America was ruled by a plutocracy of inherited wealth, even under the New Deal. At the time he could only provide a sampling of the economic and political patterns of those families, which, for one reason or another, had come under public scrutiny. In addition to the Sixty Families he dealt with in depth, he was able to outline the probable holdings of a few hundred other families. The author, in writing THE RICH AND THE SUPER-RICH, had at his disposal infinitely richer data, monographs, Congressional investigations than were available three decades ago. They have made it possible for him to give us a book which is much more than a mere updating of AMERICA'S SIXTY FAMILIES. It is, rather, a systematic study of the entire wealthy class and its familial structure. (In one important aspect it resembles AMERICA'S SIXTY It is written for the layman to awaken the reader to the real and little-known situation.)
These families have all the old levers of power and wealth plus a whole host of new ones created for them during the intervening decades by the politicians, lawyers and judges who serve them. Although published in 1968 and rocketed to the top of the bestseller list, the wealth managed by these families remains a significant force in today's economy and should not be underestimated.

Genres: History, Economics, Politics, Nonfiction, Business

814 pages, Paperback

First published June 1, 1968

Reviews

[Adam Ross · Rating 4 out of 5]

This was a really, really, REALLY long book, but that doesn't make it bad. It is a thorough investigation of the monied and wealthy interests in America. For this reason much of the book is filled with lists and figures, which can make for some tedious reading. Nevertheless, the gold of the book is worth fighting through the less interesting elements. He demonstrates that no matter how our economy has opened up, it is still controlled by the upper 3%, all of which are the descendants of a few select families, among them the Fords, the Carnegies, the Rockefellers, and others. He has a very interesting perspective on the gangster wars of the 20s as hired killers of the major corporations, documents the repeated crimes of corporations, and shows that no matter how many average Americans invest in the stockmarket it always remains under the control of these select groups. The book was written in 1965, so it is a bit dated, but much of the data remains relevant, and has been substantially updated by the likes of Kevin Phillips and others.

[Dina · Rating 5 out of 5]

If you are just like me, and love your dreams to be shattered this would be an excellent read. Despite the protests of the Fortune and WSJ that we can all make it, aka "Horatio Alger" the world is ruled by the same "old" fortunes. I mean, yeah - you might make a million or sixty but those are mere pennies if you wanna swim with the big fish. Which doesn't mean you shouldn't try - mean we need hard workers and innovators how else our fortune keepers can multiply their fortunes.

Either way, I love that book so much that I am going to germinate on it for couple of months and then to re-read it. THIS should be read in economics classes not Paul Samuelson.

P.S. The rich ARE different than you and I.

[Naeem · Rating 4 out of 5]

Another one from college days (mid 70s for me). The argument here is that mere millionaires don't count. It is the super rich that count -- the Du Ponts, Rockefellers, etc. It gives an account of all the families in the US that are truly super-rich. I am sure he has updated the account since.

[Adam Gutschenritter · Rating 4 out of 5]

The systematic statistical analysis of how the super rich gain, keep and use money to increase their own wealth and power. It is brutal....and although dated I can only guess that it is worse now.

[Ivo Spigel · Rating 5 out of 5]

A fascinating study (published in 1968) of how the rich in the US hold on to their wealth and legally avoid paying taxes.

[peter timpe]

I hope you like reading a narrative of facts and fact backed opinions about the American Elite and the power they have. To me- there was much over my head. I guess I'm one if the "Dolts" that is part of the middle class ignorant horde he speaks of.

Overall an interesting read. Highly thought provoking in the wake of our current political landscape in America.

[Sami]

What a hard read this is. It's a long list of rich people's incomes that you'll never remember.

[Feliks · Rating 2 out of 5]

A great book to flip through and choose chapters at random to peruse.

[David · Rating 4 out of 5]

Good book. Long. Detailed