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8 - The Culture of Capital

Published online by Cambridge University Press:  05 July 2014

Sven Beckert
Affiliation:
Harvard University, Massachusetts
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Summary

By the 1880s and 1890s, New York's merchants, industrialists, and bankers had transformed themselves more than ever before into a self-conscious class. They saw themselves and were seen by others as a distinct social group, a collective identity they articulated in numerous ways as class position and class identity corresponded to a degree unknown before. Though divisions of a cultural and political kind persisted, they did not rival those that had had their roots in slavery and the Civil War. The conflicts of the antebellum years had now finally been left behind, replaced by widespread agreement on the fundamentals of the political economy of a free-labor United States. At the same time, however, rapid industrialization deepened social cleavages, and the combined effects of rising inequality and proletarianization created tensions that, as we have seen, at times drove workers and farmers to mobilize collectively, in turn motivating upper-class New Yorkers to define themselves against these “dangerous classes.” This greater sense of class identity, as well as the overcoming of the deep divisions that had characterized the age of the Civil War, enabled wealthy New Yorkers to translate their ever-growing economic power into unprecedented influence on the institutions and policies of the state. Indeed, by the last quarter of the century, their power was such that not presidents but prominent New York entrepreneurs – such as John D. Rockefeller, J. Pierpont Morgan, and Andrew Carnegie – came to represent the age.

Type
Chapter
Information
The Monied Metropolis
New York City and the Consolidation of the American Bourgeoisie, 1850–1896
, pp. 237 - 272
Publisher: Cambridge University Press
Print publication year: 2001

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  • The Culture of Capital
  • Sven Beckert, Harvard University, Massachusetts
  • Book: The Monied Metropolis
  • Online publication: 05 July 2014
  • Chapter DOI: https://doi.org/10.1017/CBO9781107050822.013
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  • The Culture of Capital
  • Sven Beckert, Harvard University, Massachusetts
  • Book: The Monied Metropolis
  • Online publication: 05 July 2014
  • Chapter DOI: https://doi.org/10.1017/CBO9781107050822.013
Available formats
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To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • The Culture of Capital
  • Sven Beckert, Harvard University, Massachusetts
  • Book: The Monied Metropolis
  • Online publication: 05 July 2014
  • Chapter DOI: https://doi.org/10.1017/CBO9781107050822.013
Available formats
×