Tuesday, March 5, 2013

"their wealth had to be in land that could be confiscated"

The Best Defense:

the role of aristocracy was to provide loyal, competent, honest service to the crown. Thus their wealth had to be in land that could be confiscated. An aristo who invested in industry was no longer hostage to the crown, and so could no longer be trusted entirely. Hence the creation of strong disincentives to pursuing other forms of wealth, one reason that the ruling class in England tended to sit out the Industrial Revolution.