Which nation? I take it you mean the United States or Great Britain?
Because a few people, unless they invest their money into capital, can only buy so much. How do you justify the purchase of multi million dollar race horses. Who benefits from such a purchase?
How do you justify the purchase of a mansion with 12 bathrooms? Who needs such a place except a family of 13 children and 2 parents?
However, if they are conscientious and spend on capital and business interests, they put their wealth to work and and create jobs which helps many people.
Ronald Reagan was president from Jan 20, 1981 to Jan 20, 1989
In his Politics, Aristotle divides government into 6 kinds, 3 good and 3 bad. The good forms are monarchy, aristocracy, and polity, while the bad forms are tyranny, oligarchy, and democracy. Each of the good forms has the possibility of turning into its bad form - i.e., monarchy into tyranny, aristocracy into oligarchy.
Seeing that democracy is listed in the "bad camp", people automatically assume that Aristotle was anti-democratic. But this is an over-simplification.
By democracy, Aristotle really means mob rule. Polity corresponds more to what we'd think of as modern democracy - a stable, orderly institution that represents and protects the people. For instance, polity is what existed in Athens during its Golden Age. Aristotle didn't oppose this by any means.
Indeed, unlike his teacher Plato, who sought to create an ideal model of the state ruled by philosopher-kings, Aristotle thought that the best form of government was determined by the situation. For a virtuous people, polity could very well be the best form of government; for a subservient people (and Aristotle believed that such people existed), monarchy or tyranny might be the natural state of affairs.
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By 1900 the United States had overtaken Britain in manufacturing, producing 24 percent of the world's output. After 1870 both Russia and Japan were forced by losing wars to abolish their feudal systems and to compete in the industrializing world.
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