Abstract
… for each period into which our economic history may be divided, there is a distinct and separate class of capitalists. In other words, the group of capitalists of a given epoch does not spring from the capitalist group of the preceding epoch. At every change in economic organization we find a breach of continuity. It is as if the capitalists who have up to that time been active, recognize that they are incapable of adapting …. They withdraw from the struggle and become an aristocracy, which if it again plays a part in the course of affairs does so in a passive manner only, assuming the role of silent partners. In their place arise new men.…
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