With all the discussion, acrimonious and otherwise, stirred up by Pope Francis’s tweet about inequality being the root of all social evil, it’s interesting to see that Judge Grosscup was saying pretty much the same thing more than a century ago. As His Honor continued,
Diffusion of Wealth in the United States
The second fact is, that though the industrial property of the country is not widely diffused among the people, the people have the financial means to bring about such diffusion — that it is on their individual wealth, poured through the financial streams into Wall Street, that all the great corporations now chiefly rest.
|Small savings/Working capital|
(Next week: “Securing an Interest in Combinations”)