The Rich and the Super-Rich
Encyclopedia
The Rich and the Super-Rich. A Study in the Power of Money Today is a study by Ferdinand Lundberg
conducted in 1968. In this study, Lundberg tries to bring his findings from America's Sixty Families
(1937) up to date and into the field of elite
studies. He critically examines recent studies in the concentration of wealth in the USA, only to conclude that the majority of the "new rich" are the inheritors of the big fortunes studied in the earlier book. But the rate of concentration has increased. The Lampman study (1962), the Michigan study (1964), and the Federal Banking lists (1962) all point to the fact that a little more than one percent of the households in the US control 65 % of the invested capital
. Lundberg concludes that this elite of little more than 500.000 people has a decisive influence in the economic system. Throughout, Lundberg relies on studies by others. His study has been superseded by more recent books on wealth
and income
.
Tables in the appendix list top incomes and top wealth owners.
Ferdinand Lundberg
Ferdinand Lundberg was a 20th century economist and journalist who studied the history of American wealth and power.-Background:...
conducted in 1968. In this study, Lundberg tries to bring his findings from America's Sixty Families
America's Sixty Families
America's 60 Families is a critical exposure by Ferdinand Lundberg of the leading groups in business and finance from 1896 to 1936. It traces the rise of the biggest industrial trusts from 1900 to 1920 and how their control passed over to finance capital after 1920...
(1937) up to date and into the field of elite
Elite
Elite refers to an exceptional or privileged group that wields considerable power within its sphere of influence...
studies. He critically examines recent studies in the concentration of wealth in the USA, only to conclude that the majority of the "new rich" are the inheritors of the big fortunes studied in the earlier book. But the rate of concentration has increased. The Lampman study (1962), the Michigan study (1964), and the Federal Banking lists (1962) all point to the fact that a little more than one percent of the households in the US control 65 % of the invested capital
Invested Capital
Invested Capital represents the total cash investment that shareholders and debtholders have made in a company. There are two different but completely equivalent methods for calculating invested capital...
. Lundberg concludes that this elite of little more than 500.000 people has a decisive influence in the economic system. Throughout, Lundberg relies on studies by others. His study has been superseded by more recent books on wealth
Wealth
Wealth is the abundance of valuable resources or material possessions. The word wealth is derived from the old English wela, which is from an Indo-European word stem...
and income
Income
Income is the consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings...
.
Tables in the appendix list top incomes and top wealth owners.