Old Money: The Mythology of Wealth in America
by Nelson Aldrich Jr
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Book Summary Information
Author: Nelson Aldrich JrEdition: Paperback
Audio: English (Unknown); English (Original Language); English (Published)
Published: 1997-06-01
ISBN: 1880559641
Number of pages: 340
Publisher: Allworth Press
Product features:
- ISBN13: 9781880559642
- Condition: New
- Notes: BRAND NEW FROM PUBLISHER! 100% Satisfaction Guarantee. Tracking provided on most orders. Buy with Confidence! Millions of books sold!
Book Reviews of Old Money: The Mythology of Wealth in America
Book Review: I've read them ALL (this one last) -- Read this one FIRST!
Summary: 5 Stars
Over the course of a few too many years I have acquired a 3-foot stack of classic books on wealth, status and power in America, and this is both the latest addition and the undisputed spiritual (!) capstone of the collection. "Rich and nuanced" is how I would characterize Mr. Aldrich's comprehensive assessment of the phenomenon of inherited wealth and established social class in the land of the American Dream. Mythic stuff indeed (it was this word that compelled me to buy the book) -- and Aldrich's background and skills are more than up to the challenge of rendering it, in all its paradox, consternation and complexity, for the genuinely interested reader.
The brief panning reviews below mystified me as well as they did the other reviewer. Aldrich starts out not with anything construable as a "justification", but rather with a withering indictment of the source of his family's wealth -- in itself a mini-education in the dynamics of 19th century pork barrel politics. Aldrich's book is both a sort of personal exorcism of family demons that others would just as soon whitewash and preen themselves over, and a subtle and multi-dimensional account of a great many interrelated issues surrounding the institution of inherited wealth and privilege, and its effect on those both inside and outside the golden pale.
"Reasoned" and "balanced" are two other adjectives that suggest themselves with regard to the book's overall project. Outsiders may resent his occasional displays of sympathy for his motley compatriots in hyper-enfranchisement, but you'll have to search elsewhere (e.g. the better-written WASP Supremacy diatribes) for the "our shortcomings are colorful foibles, theirs are hideous crimes" pathology that afflicts the smug somnambulists of the Far Right.
True, Aldrich hasn't climaxed his public catharsis by giving away his patrimony (though I'd be surprised if he hasn't been more than usually financially generous in all the right directions); but anyone accusing him of a lack of noblesse oblige is just being perverse or uncomprehending regarding the general thrust and intention of this eminently worthwhile read.
In the author's defense, I can only suggest that the one virtually unassailable self-justification for Establishment predations -- "If it weren't us on top, it would inevitably be others, and probably the more harsh for lack of experience" -- is rendered just a bit less disconcerting by the occasional production of a gentleman as truly humane, culturally enriching, and deeply entertaining as Mr. Aldrich.
As for the alleged elitist style: I too lack basic French, and tend to resent its use in expository prose. But "blipping over" a phrase here and there doesn't usually harm the overall sense of a well-heeled writer's material; and a modicum of humility obliges any reader to make an effort to step outside himself and honor the sensibilities of the more accomplished.
In this and other matters of vocabulary, would the disgruntled reviewer below prefer Aldrich to write down to him? Given the hazards of such behavior's leading to intellectual patronization or worse (i.e., just plain lazy thinking and/or exposition), I'll take the occasional mini-slight to my natural dignity as an untutored reader -- there are dictionaries, after all -- and accept my cultural patrimony whole and unblighted by stylistic censorship.
The comment below about most writers on this topic being outsiders is well taken. "Old Money" lacks Ferdinand Lundberg's statistically-fuelled rantings, and stops a bit short of fellow outsider Veblen's ironic savaging of the cultural degeneracies of endemic privilege. Its richly nuanced approach is due no less to Aldrich's insider status than to his exceptional observational, analytic and descriptive powers, and the present reviewer is grateful for the synergy.
For those interested in the roots and mechanisms of wealth-as-power, Lundberg's trenchant "The Rich and the Super Rich" is irreplaceable; Epstein's and Fussel's mordant depictions of the invidious lifestyle are both entertaining and informative; and the other dozen-odd major authors are sources of endlessly varied morsels of cocktail party erudition. But no one ties it all together in as many different ways at once as Aldrich. Read him first, instead of last as I did, and avail yourself of an impeccable standard of value for any other study on this topic that you're likely to find.
Summary of Old Money: The Mythology of Wealth in America
This insider's look at inherited wealth in the United States explores the complex meanings of money and success in American sociey with a new introduction that examinies whether America's privileged class will be willing or able to play a leadership role in the twenty-first century."This witty and elegant meditation on the making and the meaning of America's upper clas is both a delight to read and an act of social illumination." ?Arthur Schlesinger, Jr.
"I don't think any insider has told us more about any class in America than Nelson Aldrich tells us here about his own." ?Philip Roth
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