4 min read.Updated: 19 Jul 2018, 11:31 PM ISTLivemint
The humbling of Elon Musk shows that markets and public opinion can be effective in holding them to account
I can hire one half of the working class to kill the other half," Jay Gould had once said. It wouldn’t have been past him to try. Little was off limits to the man who played Wall Street like a fiddle, captured the railroad industry and nearly cornered the US gold market in 1869’s Black Friday panic. Even by the standards of the Gilded Age, the robber baron, described by a newspaper as a “wrecker of industries and an impoverisher of men", was extraordinarily devious and despised. It didn’t stop him from amassing a fortune that places him eighth on an inflation-adjusted list of the US’ wealthiest men.
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