IN PRAISE OF THE BOURGEOISIE: A LETTER TO THE ECONOMIST (April 8, 2009)

Lacking historical depth, your special report on the rich fails to entertain, let alone instruct (“Spare a Dime?” April 4, 2009). By and large uncouth upstarts, today’s rich are a sorry lot. Pitted against the aristocracy, the bourgeoisie was occasionally impressive in its achievements. Capitalism is one of them, it goes without saying. But that ceased about a century ago, with World War I. The demise of aristocracy—the true rich, as it were—spells the end of the bourgeoisie, as well. Now we have only the rich with nothing but conspicuous consumption to their name. And it is their unreflected greed that has led to two depressions in less than a century, one of which is unfolding in front of our very eyes. Your special report eschews all this, as though it is ancient history. In fact, it is hardly history at all.