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Our Benevolent Feudalism

Chapter 2: PREFACE
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About This Book

An analysis of how industrial consolidation and the rise of trusts concentrate economic and political power in the hands of a few, producing a quasi‑feudal social order masked by claims of benevolent stewardship. It traces combinations and corporate coalescence, profiles powerful magnates, and examines effects on farmers and wage‑earners. It scrutinizes the roles of lawmakers, judicial interpretation, and opinion moulders in legitimizing concentrated authority, surveys wider social changes tied to corporate ascendancy, and considers possible transitions and outcomes, combining descriptive examples with critical argument to warn that institutions may adapt to, rather than check, oligarchic economic control.

PREFACE

The germ of this book was contained in an article published in the Independent, April 3, 1902. The wide interest which that article awakened prompted the elaboration and arrangement of its briefly considered and somewhat disjointed parts into the present form.

The chapters on “Our Makers of Law” and “Our Interpreters of Law” have been carefully read by a member of the New York Bar who has made a special study of the matters treated therein. Some of the decisions cited in the latter chapter are admitted to be those of subordinate courts in comparatively unimportant States. The intention, however, was to give a general view of judicial interpretation; and for that reason it became necessary to cite decisions of inferior as well as superior courts, and those from semi-industrial as well as industrial States.

As the book goes to press, the news is published that the anthracite magnates have yielded and made concessions to public sentiment. It is an act in harmony with the wiser forethought of most of the magnates of to-day, and it strengthens the general seigniorial position immeasurably.