The abolition occurred just as it became clear that much of the wealth that had...

The abolition occurred just as it became clear that much of the wealth that had been seemingly created in the Roaring Nineties was nothing more than a phantasm, that much of the wealth was "stolen" property, acquired through misleading accounting and tax scams, in an economy where corporate governance had failed, and failed badly. But for the lucky few who had cashed in, there was the basis to found a new set of dynasties. At least the railroad barons of the nineteenth century, who used political influence to attain their riches, left behind a legacy of railroads, of hard capital, which bound the country together and energized its growth. What was the legacy of so many of the dot-com millionaires and billionaires, the executives of Enron, Global Crossing, WorldCom, and Adelphi, other than the horror stories which would regale future generations?

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