Monday, May 31, 2010

FDR's kind of upper class-landed, merchant

Just to give another view--
- Landed gentry- do nothing for their money, just collect rents from farmers , unlike industrialists who create a manufacturing business, or financiers who identify promising businesses and risk their capital investing in them them.

- Merchant seafarers - liberals today would call them 'globalizers', buying goods for very low prices where labor is very cheap and selling them for huge profits elsewhere.

in reference to:

"Both the Roosevelts and the Delanos were prosperous merchant families who had derived much of their fortunes from seafaring. As a landowner with a Hudson River estate, a man from a family that moved easily in the Edith Wharton universe of Knickerbocker society, Roosevelt approached economic problems with different preconceptions from those of the industrialist or the financier on the make."
- The FDR Years: On Roosevelt and His Legacy (view on Google Sidewiki)

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