what history teaches us about the super-rich

Tuesday 14 October 2014 

In 1774, one of Britain’s wealthiest traders was summoned to parliament to account for profligacy and corruption. Frustrated by the MPs’ persistent questioning, he told them: “I walked through vaults which were thrown open to me alone, piled on either hand with gold and jewels. Mr Chairman, at this moment I stand astonished at my own moderation.” Nearly two and a half centuries later, another rich and confident man was equally affronted: “There was a period of remorse and apology for banks. I think that period needs to be over.”

Lord Clive of India and Bob Diamond of Barclays share many characteristics. They both claimed to be self-made (the truth was less romantic). They displayed skill, guile and tenacity to get to the top, and they could not understand why anybody might resent their success.

Ever since a tiny slew of Russians made silly money by expropriating their country’s natural resources in the early 1990s, the psychology of the super-rich has fascinated us. The people who are blamed for the economic crisis and for widening inequality are still living in their parallel worlds, raking in the bonuses, taking their private jets to their private islands, while dolling out the odd scrap known as philanthropy................................

http://www.theguardian.com/society/2014/oct/14/history-teach-us-super-rich-john-kampfner