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"The Rich and the Super-Rich" by Ferdinand Lundberg..available for free download at the following link..due to it's copyright's expiration http://www.soilandhealth.org/03sov/0303critic/0303socialcriticism.htmlA man whose entire worth lies in 5 per cent of the capital stock of a corporation capitalized at $2 billion is worth only $100 million. But as this 5 per cent--and many own more than 5 per cent--usually gives him control of the corporation, his actual operative power is of the order of $2 billion. Politically his is a large voice, not only because of campaign contributions he may make but by reason of all the legislative law firms, congressional and state-legislative, under retainer by his corporation; for every national corporation has law firms in every state. There is additionally to be reckoned with all the advertising his corporation has to dispense among the mass media as a tax-free cost item, the lobbyists his corporation puts into the field and the cultural-charitable foundations both he and the corporation maintain. Such a man, worth only $100 million net, is clearly a shadowy power in the land, his ownership stake vastly multiplied by what he controls--other people's property as well as his own. And there are more than a few such. On the other hand, many intelligent citizens today complain in the face of the alleged complexity of affairs of feelings of powerlessness. Their feelings are justified. For they are in fact politically powerless. The actual power of such concentrated ownership, therefore, is much greater than its proportion in the total of investment assets. The corporate power of the top 200,000, and certainly of the top 700,000, is actually 100 per cent. The power of this top layer corporatively would be no greater if it owned 100 per cent of investment assets. Actually, it might be less: It would then receive no support from many tremulous small holders but would probably find them in political opposition.------------------------------------------------------------------------------- A Note on Neo-Conservatism All the neo-conservatives from H. L. Hunt and Barry Goldwater on down resemble Buckley in that, whatever their rated wealth (which is usually small), they are insecure. Some feel subjectively more insecure than others; all are objectively insecure in a changing world. They are caught between big corporations on the one hand and big government, Communist or liberal, on the other. But, envying the big corporations and wishing to be included among them, they direct most of their fire against the cost-raising social aspirations of the people from whom established capital does not feel it has so much to fear. (If necessary, entrenched capital can stand social reform as in Sweden, passing the costs on in price and taxes. It has, in any event, more room for maneuver and holds all the strong positions.) But the Goldwaters and Buckleys, with their obscure department stores and oil concessions, are in a different boat. They have begun to suspect that they may never make it to the top, there to preen before the photographers. Sad, sad. . . . Hence, they cry, government should not be used to meet the needs of the people, despite the constitutional edict that it provide for the common welfare; government should merely preside over a free economic struggle in which the weak submit to the strong stomachs. As for the Big Wealthy in the Establishment, in the Power Structure, the Power Elite, they should not, say the neo-conservatives, allow themselves to be deluded by infiltrating nurses, governesses, tutors, teachers, wandering professors, swamis, university presidents and others bearing the spirochita pallida of political accommodation. For accommodation has its own special word in the vocabulary of neo-conservatism. It is: Communism. The neo-conservatives or radical rightists, like the radical leftists, are discontented. There is, however, a different economic basis to the discontent of each. The leftists own no property, therefore see no reason to embrace a property system; the rightists still have some but feel their property claims slipping, feel they are being precipitated into the odious mass of the unpropertied. They foresee being thrown out of the Property Party; for many of them, in fact, are heavily indebted to the banks. The illusion of the radical rightists is that they can yet save their property claims, not by restoring free competition and subduing the rivalrous Rockefellers, Du Ponts, Fords and Mellons (whom they admire and fear as well as envy) but by inducing these latter to join in an all-out assault on the sans-culottes and descamisados. However, established wealth, seeing no good for itself in upsetting a smoothly running operation which it feels fully capable of controlling, is not interested in this vexing prospect, Hence the outcries of the neo-conservatives against "the Eastern Establishment" and the "socialism" of Nelson Aldrich Rockefeller. In Buckley's National Review these self-dubbed conservatives sound like inverted Marxists in yachting clothes. http://www.soilandhealth.org/03sov/0303critic/0303socialcriticism.html
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