"Old money" vs "New money" (user search)
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  "Old money" vs "New money" (search mode)
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Author Topic: "Old money" vs "New money"  (Read 2146 times)
TNF
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« on: September 30, 2013, 06:34:22 AM »

I think the key difference here is the the "Old Money" types were attempting to not only make money, but make the system that was being imposed on their countrymen (capitalism) legitimate in the eyes of those same countrymen so that they could go about their business. So naturally they used some of what they made to try and legitimize capitalism in the eyes of those who benefitted not one bit or very little from the system, partly as a way to buy labor peace, and partly as a way to legitimize their position as the new ruling class in the United States after the Civil War.

The key difference today is that "New Money" is removed of this "responsibility." It does not fear the rise of an alternative worldview because it (and I would wager most of the public) views said alternatives as impossible. They simply point to the old Soviet Union as "proof" that "socialism" does not work and go about their lives. They see no cause for improving the lot of anyone other than themselves nor need to invest in ideological propaganda because for these guys and gals, the "End of History" myth rings true - that there are no alternatives to capitalist economic organization and that those trying to establish them will ultimately fail.
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