Quotulatiousness

May 20, 2026

QotD: “Gilded Age” Robber Barons didn’t have access to what even working-class Americans have now

Filed under: Business, Economics, History, Quotations, USA — Tags: , , , , , , , — Nicholas @ 01:00

Where Marx really went wrong was — and I know this sounds flip, but I’m as serious as cancer — being born in 1818. He lived his entire miserable life in a world where “labor” really was a physical thing. The richest robber baron of the Gilded Age lived a far different life, materially, than the poorest serf-in-all-but-name working in his factories …

… but the robber baron knew he needed the serfs. Their relationship was purely dialectical. Without his factory hands, no robber baron. And in a strange but very real way, the higher up the food chain your Gilded Age robber baron went, the more he was dependent on his serfs for his lifestyle. J.P. Morgan is usually credited as being the first guy to become a Robber Baron purely through finance. Carnegie, Rockefeller, all those guys had most of their wealth in financial instruments, of course, but those financial instruments rested on control of a physical product — Carnegie Steel, Standard Oil.

I’m probably being unfair to Jay Cooke, the Michael Milken of his day, but since more people have heard of J.P. Morgan let’s roll with it. Even though Morgan’s wealth was entirely on paper — he was nothing but a securities trader — his lifestyle utterly depended on a battalion of servants. In a very real way, you yourself, right now, live much better than J.P. Morgan did in his heyday. And not just because you have aspirin, antibiotics, and air conditioning, three taken-for-granted things ol’ J.P. would’ve given half his kingdom for. But because you have more time. If you’re hungry, you can open the fridge or the microwave and have all the food you need in a matter of minutes.

J.P. couldn’t. J.P. had to deploy an army of servants every time he wanted a snack, and those servants were constrained by things like “availability of ice” and “when is the fishmonger at his stall”. You’re hungry at 2am, you jump in your car and get some Taco Bell. It takes ten minutes. J.P.’s hungry at 2am and it’s tough titty, J.P., your ass is going hungry. Because even though you’re the richest man in the world and have legions of manservants at your beck and call, Taco Bell just isn’t there. Even if someone had had the brilliant idea to create a Gilded Age Taco Bell, it still would’ve taken hours:

Wake up the manservant. Wake up the groom and stableboy. Hell, wake up the horse, then saddle the horse, ride to the drive thru window … which in this case means “the house of the guy who runs Gilded Age Taco Bell”. At which point he has to fire up the oven, start pounding the tortillas, send his own legion of valets and stableboys and whatnot out to get the refried beans …

And that’s the other thing, J.P. — you’d best not pull that shit too often, because those people know where you live. Not only do they know where you live, they live with you. Literally under the same roof. You want to sleep easy? You’d best not beat the servants too often, buddy.

There’s only so much “class consciousness” one can develop in that world. Oh yeah, J.P. thought of himself as one of the Masters of the Universe, there’s no denying that. But J.P. lived in what was still a brutally physical world, in a way we PoMo people really can’t grasp. If you can’t imagine what it would take to get some Gilded Age Taco Bell, maybe geography will do the trick. Ever seen Gangs of New York? Even if you haven’t, you’ve probably heard the name “Five Points”. The worst slum in America in the 19th century, and 19th century American slums were world class …

That was right down the street from Wall Street. Literally. I am not in any way joking, and if I’m exaggerating a little for effect when I say “J.P. could’ve hit Five Points with a five iron from his swanky digs on Central Park West”, I promise you I’m not exaggerating much. You can look it up for yourself. The main reason the Union rushed troops straight from the Gettysburg battlefield, and no-shit shelled parts of the city with gunboats, during the Draft Riots was because Five Points (et al) was right fucking there, and they might’ve gotten it into their heads to lynch a few Masters of the Universe. Rich man’s war, poor man’s fight, right? Let’s see how you like it, you bankster bastards …

The PoMo “information economy” removes all that. The other day I joked about colleges like Bennington and Goucher. I cracked some jokes, yeah, but I wasn’t really joking. Those places aren’t for us. Wall Street is still a physical location, but it might as well be on the dark side of the moon for all any of us have access to it. J.P. couldn’t beat the servants too hard, or too often. The modern equivalent of J.P. isn’t even aware that he has servants. He just clicks on a website, and stuff appears at his door. Like magic. Hell, it IS magic for all he knows, and he surely doesn’t care, because all that shit is his by right. He went to Bennington, after all. He has achieved full class consciousness.

All of which suggests, of course, that while Marx was wrong about the end state — the State will not, in fact, wither away — he might well have been right about the solution to the “contradictions of capitalism”, if you follow me. And if that makes me some kind of godless pinko Commie subversive, well … I’ve been called worse by better.

Anybody got the lyrics to La Marseillaise in English?

Severian, “On Losing the Cold War”, Founding Questions, 2022-07-02.

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