After the success of Mourning Becomes Electra on Broadway, Eugene O’Neill labored in silence during twelve years (1934-1946) at the writing of a cycle of eleven plays (“A Tale of Possessors Self-Dispossessed”) which told the story of an American family from before the founding of the republic to the 1930s. One of O’Neill’s sources for his ambitious project was Matthew Josephson’s The Robber Barons: The Great American Capitalists 1861-1901. A reading of Josephson’s book today provides illumination on the contemporary plutocracy that controls the nation today behind the façade of the Trump presidency.
Josephson’s book chronicles the ascendancy to power of that group of capitalists which built railroads (Cornelius Vanderbilt), controlled the oil and steel industries (John D. Rockefeller and Andrew Carnegie), and revolutionized the country’s banking and financial sectors (J.P. Morgan and Jay Gould) after the Civil War. (more…)