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Dynasties: Fortune and Misfortune in the World's Great Family Businesses by David Landes [rare books]

Dynasties: Fortune and Misfortune in the World's Great Family Businesses by David Landes [rare books]

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Book Summary 

In Dynasties, esteemed economic historian David S. Landes explores the intriguing worlds of thirteen multigenerational family-run businesses—spanning banking (e.g., Rothschilds, Morgans), automobiles (e.g., Ford, Toyota), and natural resources (e.g., Rockefellers, Guggenheims). Landes defines a dynasty as a venture controlled by a single family across at least three generations and investigates how traits like loyalty, trust, and familial ambition contributed to their success—while extravagance, internal conflicts, and poor succession planning often led to decline. His narrative treats each case like a dramatic story, spotlighting emotional dynamics—marriage, envy, authority—rather than merely corporate history. Landes argues that, contrary to conventional economic thought that elevates professionally managed firms, dynasties have historically outperformed due to their cohesion and commitment—even though many ultimately dissolved or lost control.

About the Author 

David S. Landes (April 29, 1924 – August 17, 2013) was a renowned American economic historian and Professor Emeritus at Harvard University, known for seminal works such as The Wealth and Poverty of Nations, The Unbound Prometheus, and Revolution in Time . He earned his Ph.D. at Harvard in 1953, after serving during WWII in cryptanalysis for the U.S. Army His scholarship garnered both praise for its detailed insights and criticism for its Eurocentric approach—an analytical stance Landes openly acknowledged, reasoning that Europe’s economic “miracle” warranted a Europe-focused interpretation

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