Trickle-Up Economics
27th Sep 2006, 05:08 GMT
If you're in Asheville, N.C., stop by Biltmore, the vast estate that George Vanderbilt III -- heir to a railroad fortune -- constructed between 1889 and 1895. You can tour most of its 250 rooms, including 43 bathrooms and an indoor swimming pool. When few Americans used electricity, Biltmore had its own generators. To take the tour is to grasp one of the great advances of the 20th century: The gap between the super-rich and most Americans has narrowed enormously. In Vanderbilt's time, most Americans lived in filthy slums or on modest farms. Now even the wealthiest among us live more like ordinary people than Vanderbilt ever did.
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