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Dirty MoneyOn Financial Delinquency$
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Vincenzo Ruggiero

Print publication date: 2017

Print ISBN-13: 9780198783220

Published to Oxford Scholarship Online: February 2017

DOI: 10.1093/acprof:oso/9780198783220.001.0001

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Bankers and Robber Barons

Bankers and Robber Barons

Chapter:
(p.55) 4 Bankers and Robber Barons
Source:
Dirty Money
Author(s):

Vincenzo Ruggiero

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198783220.003.0004

We are now in the century of railways and robber barons, of iron, steel, empire, deadly wars, and financial distress. Innovation and development are accompanied by speculation, periodical crises, bubbles, and bankruptcies. Railroad builders bought political influence through lobbying or bribes, promoting a doctrine of laissez-faire or market freedom while in fact ensuring state intervention supported them. Notable examples were Cornelius Vanderbilt (owner of steamships and railroads), Andrew Carnegie (steel manufacturer), J. P. Morgan (financier and banker), John D. Rockefeller (founder of Standard Oil), Russell Sage (financier), and Jay Gould and Jim Fisk (Wall Street traders). This chapter dwells on numerous delinquent episodes within the financial world and discusses the views of Quetelet, Marx, Lombroso, Garofalo, Ferri, Tarde, and others.

Keywords:   infinite aspirations, habit, charlatans, passionate interests, thieves, deviant benefactors

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