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As Gods Among Men: A History of the Rich in the West
How the rich and the super-rich throughout Western history accumulated their wealth, behaved (or misbehaved) and helped (or didn’t help) their communities in times of crisis
The rich have always fascinated, sometimes in problematic ways. Medieval thinkers feared that the super-rich would act 'as gods among men’; much more recently Thomas Piketty made wealth central to discussions of inequality. In this book, Guido Alfani offers a history of the rich and super-rich in the West, examining who they were, how they accumulated their wealth and what role they played in society. Covering the last thousand years, with frequent incursions into antiquity, and integrating recent research on economic inequality, Alfani finds—despite the different paths to wealth in different eras—fundamental continuities in the behaviour of the rich and public attitudes towards wealth across Western history. His account offers a novel perspective on current debates about wealth and income disparity.
Alfani argues that the position of the rich and super-rich in Western society has always been intrinsically fragile; their very presence has inspired social unease. In the Middle Ages, an excessive accumulation of wealth was considered sinful; the rich were expected not to appear to be wealthy. Eventually, the rich were deemed useful when they used their wealth to help their communities in times of crisis. Yet in the twenty-first century, Alfani points out, the rich and the super-rich—their wealth largely preserved through the Great Recession and COVID-19—have been exceptionally reluctant to contribute to the common good in times of crisis, rejecting even such stopgap measures as temporary tax increases. History suggests that this is a troubling development—for the rich, and for everyone else.
The rich have always fascinated, sometimes in problematic ways. Medieval thinkers feared that the super-rich would act 'as gods among men’; much more recently Thomas Piketty made wealth central to discussions of inequality. In this book, Guido Alfani offers a history of the rich and super-rich in the West, examining who they were, how they accumulated their wealth and what role they played in society. Covering the last thousand years, with frequent incursions into antiquity, and integrating recent research on economic inequality, Alfani finds—despite the different paths to wealth in different eras—fundamental continuities in the behaviour of the rich and public attitudes towards wealth across Western history. His account offers a novel perspective on current debates about wealth and income disparity.
Alfani argues that the position of the rich and super-rich in Western society has always been intrinsically fragile; their very presence has inspired social unease. In the Middle Ages, an excessive accumulation of wealth was considered sinful; the rich were expected not to appear to be wealthy. Eventually, the rich were deemed useful when they used their wealth to help their communities in times of crisis. Yet in the twenty-first century, Alfani points out, the rich and the super-rich—their wealth largely preserved through the Great Recession and COVID-19—have been exceptionally reluctant to contribute to the common good in times of crisis, rejecting even such stopgap measures as temporary tax increases. History suggests that this is a troubling development—for the rich, and for everyone else.
440 pages, Hardcover
First published December 5, 2023
About the author
Guido Alfani
10 books18 followersGuido Alfani is Professor of Economic History at Bocconi University, Milan (Italy). He is also an Affiliated Scholar at the Stone Center on Socio-Economic Inequality (New York), a Research Associate at the CAGE Research Centre (Warwick) and a Research Fellow of the Center for Economic Policy Research (CEPR, London).
An economic and social historian and a historical demographer, he published extensively on Italy and Europe (and beyond), specialising in economic inequality and social mobility, in the history of epidemics and famines, in social alliance systems and social networks.
His most recent book, As Gods among Men. A History of the Rich in the West (Princeton University Press, 2023) is an ambitious attempt at providing a general history of the rich and the super-rich, and of how they obtained their wealth, from Antiquity until today.
His previous book, The Lion’s Share. Inequality and the Rise of the Fiscal State in Preindustrial Europe (Cambridge University Press, 2019), with Matteo Di Tullio, explores how preindustrial fiscal systems favoured a continuous increase in economic inequality, because they were designed by the elites, for the advantage of the elites.
Previous books by Alfani focused on the economic and social consequences of major catastrophes. The book Calamities and the Economy in Renaissance Italy (Palgrave 2013) discusses the impact of war, plague and famine in the different pre-unification Italian states during 1494-1629 - what Alfani dubs the "long sixteenth century". The book Famine in European History, a collection of essays which Alfani edited together with Cormac Ó Gráda, focused on major crises triggered by a scarcity of food (and/or of access to food). The book Pandemie d'Italia ("Italian Pandemics", Egea 2010, available in Italian edition only), which Alfani co-authored with Alessia Melegaro, covers the consequences of plagues (from the Black Death of the fourteenth century to the last plague epidemics affecting Italy in the early eighteenth century), of cholera pandemics, of the Spanish Flu and of other major influenza pandemics, of pandemics of sexually-transmitted infections such as syphilis and HIV, and closes with a discussion of recent pandemic threats, up to the "Swine Flu" influenza pandemic of 2009-10.
Alfani also published extensively in social history, particularly on the history of godparenthood and the spiritual kinship ties that it generated. To this topic he dedicated his first book, Fathers and Godfathers. Spiritual Kinship in Early-Modern Italy (Routledge 2009).
An economic and social historian and a historical demographer, he published extensively on Italy and Europe (and beyond), specialising in economic inequality and social mobility, in the history of epidemics and famines, in social alliance systems and social networks.
His most recent book, As Gods among Men. A History of the Rich in the West (Princeton University Press, 2023) is an ambitious attempt at providing a general history of the rich and the super-rich, and of how they obtained their wealth, from Antiquity until today.
His previous book, The Lion’s Share. Inequality and the Rise of the Fiscal State in Preindustrial Europe (Cambridge University Press, 2019), with Matteo Di Tullio, explores how preindustrial fiscal systems favoured a continuous increase in economic inequality, because they were designed by the elites, for the advantage of the elites.
Previous books by Alfani focused on the economic and social consequences of major catastrophes. The book Calamities and the Economy in Renaissance Italy (Palgrave 2013) discusses the impact of war, plague and famine in the different pre-unification Italian states during 1494-1629 - what Alfani dubs the "long sixteenth century". The book Famine in European History, a collection of essays which Alfani edited together with Cormac Ó Gráda, focused on major crises triggered by a scarcity of food (and/or of access to food). The book Pandemie d'Italia ("Italian Pandemics", Egea 2010, available in Italian edition only), which Alfani co-authored with Alessia Melegaro, covers the consequences of plagues (from the Black Death of the fourteenth century to the last plague epidemics affecting Italy in the early eighteenth century), of cholera pandemics, of the Spanish Flu and of other major influenza pandemics, of pandemics of sexually-transmitted infections such as syphilis and HIV, and closes with a discussion of recent pandemic threats, up to the "Swine Flu" influenza pandemic of 2009-10.
Alfani also published extensively in social history, particularly on the history of godparenthood and the spiritual kinship ties that it generated. To this topic he dedicated his first book, Fathers and Godfathers. Spiritual Kinship in Early-Modern Italy (Routledge 2009).
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November 4, 2025
История на богатите в Запада от древността до наши дни: https://knigolandia.info/istoriya-na-...
На всеки панаир на книгата във Франкфурт имам десетки срещи с агенции и издателства от цял свят, но при тези за научна литература всичко е различно. Трескавото бързане, прелитането през каталога, акцентирането на потенциални хитове тук липсва – вместо това на щанда на издателството на Принстънския университет например винаги си говорим спокойно за големите теми на нашето време и кои учени ги разглеждат в дълбочина. „История на богатите в Запада. От древността до днес“ на икономическия историк проф. Гуидо Алфани е именно тяхно издание и за мен лично един от проектите, които придават огромен смисъл на това, което правя, благодарен съм на всички, които бяха ангажирани в процеса. В момента прецизната преводачка Елена Савова вече работи по още едно тяхно ключово заглавие, посветено на глобалната история на национализма, силно се надявам до края на годината и то да излезе.
Ciela Books
https://knigolandia.info/istoriya-na-...
На всеки панаир на книгата във Франкфурт имам десетки срещи с агенции и издателства от цял свят, но при тези за научна литература всичко е различно. Трескавото бързане, прелитането през каталога, акцентирането на потенциални хитове тук липсва – вместо това на щанда на издателството на Принстънския университет например винаги си говорим спокойно за големите теми на нашето време и кои учени ги разглеждат в дълбочина. „История на богатите в Запада. От древността до днес“ на икономическия историк проф. Гуидо Алфани е именно тяхно издание и за мен лично един от проектите, които придават огромен смисъл на това, което правя, благодарен съм на всички, които бяха ангажирани в процеса. В момента прецизната преводачка Елена Савова вече работи по още едно тяхно ключово заглавие, посветено на глобалната история на национализма, силно се надявам до края на годината и то да излезе.
Ciela Books
https://knigolandia.info/istoriya-na-...
March 27, 2026
Bulgarian review first, followed by the English translation below
Богатите имат доста нюанси, макар и не 50, и не всичките - сиви.
От грешници до обществени спасители, от разбойници до икономически двигатели, през вековете богатите са намирали куп пътища към богатството си. Пътищата са били крайно разнообразни: държавно одобрен грабеж (при завоевания или просто чрез концесия за откупени държавни данъци), чрез дръзка търговия и предприемачество (преоткрили Пътя на коприната и задвижили индустриалната революция), по наследство или с къртовски усилия, и куп други. А последиците са били както пищни ренесансови сгради, учудващи ни и днес (както и съвременните им еквиваленти), дарения за университети, така и дълбоко окопана олигархия и задушаващи икономически монополи. Всъщност и Софийският университет е резултат на богато дарение (което родните държавници доста дълго се опитвали да “усвоят”, но завещанието се оказало желязно…).
Алфани се опитва да очертае панорамно платно на богатството по западен стил. Липсата на перспектива и сравнение с Изтока убива доста от ефекта.
Първите глави, натъпкани с дефиниции, са успешно приспивателно. Обвързването на икономическото неравенство с наличието на голяма концентрация на богатството в малко на брой ръце интригува.
Историческите данни в книгата са, меко казано, откъслечни и географски, и като епохи, като най-прецизни май се оказват англичаните. Моят личен извод, на база доста досадните графики е, че само тоталната разруха - била то всеобща чумна епидемия или световна война (или поне с обхвата на трийсетгодишната такава) води до рязък спад в екстремните степени на икономическо неравенство и разпространение на богатството. Законодателните промени също помагат, но те се заобикалят крайно изобретателно, или се отменят. И цикълът разрушение ->относително ниско неравенство -> натрупване на неравенство -> екстремно икономическо неравенство се завърта.
Във втората част Алфани изследва как се натрупва богатството в западна Европа и САЩ, с някои популярни примери. Тази част не съдържа нищо ново и нищо особено просветляващо, но е общо взето най-интересната.
Накрая се стига до социалната роля на богатите, и Алфани отново губи тяга - следват цитат след цитат и повторения от предходните части на нов глас. Липсва концепция освен “този каза това, после другият каза онова, а пък третият… Я дайте да видим сега тази ситна таблица с 5 колони на цяла страница!”
Любопитният читател няма да открие кой знае какво в книгата, а и Алфани се върти с препратки наляво и надясно по-зле и от Закона за ДДС и Правилника за прилагането му. Но като за общообразователно убиване на време става.
П.П. Настръхвам от ужас всеки път като прочета превода на заглавието конкретно в частта му “в Запада”…
Богатите имат доста нюанси, макар и не 50, и не всичките - сиви.
От грешници до обществени спасители, от разбойници до икономически двигатели, през вековете богатите са намирали куп пътища към богатството си. Пътищата са били крайно разнообразни: държавно одобрен грабеж (при завоевания или просто чрез концесия за откупени държавни данъци), чрез дръзка търговия и предприемачество (преоткрили Пътя на коприната и задвижили индустриалната революция), по наследство или с къртовски усилия, и куп други. А последиците са били както пищни ренесансови сгради, учудващи ни и днес (както и съвременните им еквиваленти), дарения за университети, така и дълбоко окопана олигархия и задушаващи икономически монополи. Всъщност и Софийският университет е резултат на богато дарение (което родните държавници доста дълго се опитвали да “усвоят”, но завещанието се оказало желязно…).
Алфани се опитва да очертае панорамно платно на богатството по западен стил. Липсата на перспектива и сравнение с Изтока убива доста от ефекта.
Първите глави, натъпкани с дефиниции, са успешно приспивателно. Обвързването на икономическото неравенство с наличието на голяма концентрация на богатството в малко на брой ръце интригува.
Историческите данни в книгата са, меко казано, откъслечни и географски, и като епохи, като най-прецизни май се оказват англичаните. Моят личен извод, на база доста досадните графики е, че само тоталната разруха - била то всеобща чумна епидемия или световна война (или поне с обхвата на трийсетгодишната такава) води до рязък спад в екстремните степени на икономическо неравенство и разпространение на богатството. Законодателните промени също помагат, но те се заобикалят крайно изобретателно, или се отменят. И цикълът разрушение ->относително ниско неравенство -> натрупване на неравенство -> екстремно икономическо неравенство се завърта.
Във втората част Алфани изследва как се натрупва богатството в западна Европа и САЩ, с някои популярни примери. Тази част не съдържа нищо ново и нищо особено просветляващо, но е общо взето най-интересната.
Накрая се стига до социалната роля на богатите, и Алфани отново губи тяга - следват цитат след цитат и повторения от предходните части на нов глас. Липсва концепция освен “този каза това, после другият каза онова, а пък третият… Я дайте да видим сега тази ситна таблица с 5 колони на цяла страница!”
Любопитният читател няма да открие кой знае какво в книгата, а и Алфани се върти с препратки наляво и надясно по-зле и от Закона за ДДС и Правилника за прилагането му. Но като за общообразователно убиване на време става.
П.П. Настръхвам от ужас всеки път като прочета превода на заглавието конкретно в частта му “в Запада”…
The rich have quite a few shades, though not 50, and not all of them grey.
From sinners to social saviors, from robbers to economic drivers, throughout the centuries the rich have found a multitude of paths to their wealth. These paths were exceedingly diverse: state-sanctioned plunder (through conquest or simply via tax-farming concessions), daring trade and entrepreneurship (rediscovering the Silk Road and powering the Industrial Revolution), inheritance, or painstaking, grueling effort, among a host of others. The consequences ranged from lavish Renaissance buildings that still amaze us today (along with their modern equivalents) and university donations, to deeply entrenched oligarchies and suffocating economic monopolies. In fact, Sofia University itself is the result of a generous donation (which local statesmen tried to "absorb" for a rather long time, though the will turned out to be ironclad…).
Alfani attempts to trace a panoramic canvas of Western-style wealth. However, the lack of perspective and comparison with the East deadens much of the impact.
The first few chapters, crammed with definitions, work as an effective sleeping aid. The linking of economic inequality to the high concentration of wealth in a small number of hands is intriguing, though.
The historical data in the book is, to put it mildly, patchy—both geographically and across eras—with the English records appearing to be the most precise. My personal takeaway, based on the rather tedious charts, is that only total devastation—be it a sweeping plague epidemic or a world war (or at least one on the scale of the Thirty Years' War)—leads to a sharp drop in extreme levels of economic inequality and the redistribution of wealth. Legislative changes help too, but they are circumvented with extreme ingenuity or repealed altogether. And so the cycle turns: destruction → relatively low inequality → accumulation of inequality → extreme economic inequality.
In the second part, Alfani explores how wealth accumulates in Western Europe and the US, using several popular examples. This section offers nothing new and nothing particularly enlightening, yet it is generally the most engaging part of the book.
Finally, we reach the social role of the rich, where Alfani loses momentum once again—what follows is quote after quote, alongside repetitions from previous sections in a different key. There is no overarching concept beyond "this one said that, then the other said this, and the third one… now let's look at this tiny 5-column table taking up an entire page!"
The curious reader won't discover much here, and Alfani spins in circles with cross-references even worse than the VAT Act and its implementation regulations. Still, as a piece of general-education time-killer, it passes.
May 28, 2025
A feat of endurance. I read this concurrently with a friend who majored in economics and who said he felt like he was "running through mud" working through this. It was very interesting, and it was dense and dry.
I could tell you about every book I've read this year anywhere from "serviceably" to "comprehensively," but this one just barely scrapes by into the "serviceably" category. It was so heavy on facts, figures, and historical timelines (especially in the weeds of data science in the first 100 pages) that It's difficult to understand a broader picture of any memorable gist-based ideas, and it had me questioning my own reading comprehension; there aren't difficult concepts to understand, but they're just presented so densely one after another in these very long pages, written by a non-native English speaker and academic, And we found ourselves wondering how to explain what we just read.
I think all this is a credit to this thoroughly-written academic book and a caution to casual readers. You have to love this topic just as much as this Italian economic history professor does. I'm glad I challenged myself with it and learned I can handle a book like this, but I'm also looking forward to lighter reads next.
I could tell you about every book I've read this year anywhere from "serviceably" to "comprehensively," but this one just barely scrapes by into the "serviceably" category. It was so heavy on facts, figures, and historical timelines (especially in the weeds of data science in the first 100 pages) that It's difficult to understand a broader picture of any memorable gist-based ideas, and it had me questioning my own reading comprehension; there aren't difficult concepts to understand, but they're just presented so densely one after another in these very long pages, written by a non-native English speaker and academic, And we found ourselves wondering how to explain what we just read.
I think all this is a credit to this thoroughly-written academic book and a caution to casual readers. You have to love this topic just as much as this Italian economic history professor does. I'm glad I challenged myself with it and learned I can handle a book like this, but I'm also looking forward to lighter reads next.
December 13, 2023
So many tables and charts to tell the casual reader that the rich should pay higher taxes?
It was a great adventure, but I would have preferred a less nuanced relationship between inequality and the wealth of the one percent. However, this is definitely a matter beyond the control of our scientist :). The book deserves at least 4 stars.
It was a great adventure, but I would have preferred a less nuanced relationship between inequality and the wealth of the one percent. However, this is definitely a matter beyond the control of our scientist :). The book deserves at least 4 stars.
June 22, 2026
Milljarðamæringar 21. aldarinnar eru svo miklir lúserar—það sannast enn og aftur með þessum fína lestri. Mæli með.
April 11, 2024
Solitamente non leggo saggi - ma questo, consigliato da un amico storico, è davvero fantastico! A parte i primi due capitoli, un po' più professorali diciamo, è super-leggibile e pieno di storie interessanti. Ho imparato tanto - auguro grande successo a questo libro.
April 14, 2026
Информативна и повдигаща интересни въпроси книга, която успява на достъпен език да предаде сложните нюанси на европейската икономическа история. Поздравления и за удачния превод.
January 16, 2025
In depth to a fault at times, becoming repetitive on points. Overall a great book and interesting look at the history of how the rich attained their wealth and what they did with it.
February 24, 2026
¡Uff! ¿Qué decir sobre este libro? Comencé la lectura esperando una obra puramente de historia económica (centrada en la evolución de la acumulación de riqueza en Occidente), pero terminó siendo mucho más que eso. No obstante, no es un texto para todos los públicos; su redacción es densa y el uso de terminología técnica puede resultar pesada.
Alfani entrelaza la historia económica con la historia del pensamiento y la filosofía, incorporando claras referencias sociológicas (como las de Veblen). De esta forma, construye un marco conceptual para entender la riqueza como un fenómeno inherente a la desigualdad.
Me pareció impactante como fue un libro casi premonitorio. El autor plantea que los ricos (y súper ricos) han sido siempre un grupo social frágil, expuesto a un alto escrutinio público. Al no cumplir recientemente con su 'función social' de contribuir en momentos de crisis, el juicio colectivo se endurece, lo que puede derivar en posturas violentas (Luigi Mangione).
En resumen, es un gran libro que me deja con ganas de seguir profundizando en el tema.
Alfani entrelaza la historia económica con la historia del pensamiento y la filosofía, incorporando claras referencias sociológicas (como las de Veblen). De esta forma, construye un marco conceptual para entender la riqueza como un fenómeno inherente a la desigualdad.
Me pareció impactante como fue un libro casi premonitorio. El autor plantea que los ricos (y súper ricos) han sido siempre un grupo social frágil, expuesto a un alto escrutinio público. Al no cumplir recientemente con su 'función social' de contribuir en momentos de crisis, el juicio colectivo se endurece, lo que puede derivar en posturas violentas (Luigi Mangione).
En resumen, es un gran libro que me deja con ganas de seguir profundizando en el tema.
February 12, 2026
Tax the rich.
September 21, 2025
4.5 stars
Summary: European centric history of the rich; focussing more on Italy
Plus points: takes time to really go through the detail of what he considers the rich, plenty of charts
Neutral: very academic in writing style.
Because a lot of the points overlap, he will repeat some points or make constant cross references to other chapters. It’s a great habit if you want to make a very detailed, nuanced argument. To the casual reader, it becomes repetitive (a negative).
Points that stuck out:
1) in defining his argument, he asks what wealth is, and there are three different types identified: a) material b) relational c) embodied. In practice, he then notes that we only study non-human capital (material wealth).
2) patterns in human history - inequality tends to grow unless interrupted by catastrophes crisis eg war, pandemics (Black Death) leading to redistribution
3) linked to that: the role of inheritance; forced partition of estates helping to reduce inequality. Rich then creating trusts (entails) to mitigate that (the family is the patrimony).
4) JP Morgan leading a team of financiers in 1907 to rescue - the rich historically functioning as a “back up” bank for the state (eg forced loans); but this function gradually being erased in modern society
5) pace of growth - New York grew faster than Boston so the rich couldn’t fill the spots fast enough. This hindered the development of the aristocracy; Boston’s elite ossified faster than New York
6) sources of wealth: nobility; entrepreneurship; finance. Some mention of being government officials; but not discussed (probably no longer applicable).
7) higher savings rate of the rich vs poor focusing on sustenance.
8) women being left out unless widowed
9) historical position of the rich - viewed with suspicion (still today).
7)
Summary: European centric history of the rich; focussing more on Italy
Plus points: takes time to really go through the detail of what he considers the rich, plenty of charts
Neutral: very academic in writing style.
Because a lot of the points overlap, he will repeat some points or make constant cross references to other chapters. It’s a great habit if you want to make a very detailed, nuanced argument. To the casual reader, it becomes repetitive (a negative).
Points that stuck out:
1) in defining his argument, he asks what wealth is, and there are three different types identified: a) material b) relational c) embodied. In practice, he then notes that we only study non-human capital (material wealth).
2) patterns in human history - inequality tends to grow unless interrupted by catastrophes crisis eg war, pandemics (Black Death) leading to redistribution
3) linked to that: the role of inheritance; forced partition of estates helping to reduce inequality. Rich then creating trusts (entails) to mitigate that (the family is the patrimony).
4) JP Morgan leading a team of financiers in 1907 to rescue - the rich historically functioning as a “back up” bank for the state (eg forced loans); but this function gradually being erased in modern society
5) pace of growth - New York grew faster than Boston so the rich couldn’t fill the spots fast enough. This hindered the development of the aristocracy; Boston’s elite ossified faster than New York
6) sources of wealth: nobility; entrepreneurship; finance. Some mention of being government officials; but not discussed (probably no longer applicable).
7) higher savings rate of the rich vs poor focusing on sustenance.
8) women being left out unless widowed
9) historical position of the rich - viewed with suspicion (still today).
7)
Read
February 6, 2024The rich, like the poor, are always with us. In fact, over many centuries – as this wide-ranging and ambitious book tells us – the richest in society have captured more and more of the overall wealth of Western societies. Since the time of classical Greece, as empires have risen or fallen, their fortunes and the power which goes with them have grown and grown. Only the Black Death of the 14th century and the two world wars of the 20th have checked or reversed the trend – and only then for a time. It has always resumed. In modern times, neither the recession following the 2007-08 financial crisis nor the Covid pandemic have dented the apparently inexorable upward movement in the wealth of the rich and ultra-rich.
Guido Alfani, an economic and social historian at Bocconi University in Milan, deftly interweaves stories of individual and family wealth into his narrative. There is Alan Rufus, a companion of William the Conqueror, who controlled the staggering amount of more than seven per cent of the national income of England and was perhaps the richest man – other than monarchs – who ever lived in Britain; Elon Musk could not aspire to such wealth. Then there are the Medici of Florence, the Fuggers of Augsburg, together with the wealthy of the Netherlands, France and, overwhelmingly in recent decades, Americans: Andrew Carnegie, the Rockefellers, John Pierpont Morgan (who in 1907 single-handedly stopped the collapse of the American financial system) and most recently the tech billionaires.
The core of the book, however, is an analysis of how these men (and they were almost all men) built and maintained their fortunes, why they did so and what their societies thought of their achievements. Throughout two millennia most of the rich have been rich because of inheritance. They had rich fathers or uncles; the prime examples are nobles, closely associated with royal dynasties. There have been periods when great fortunes have been made, such as the opening up of Atlantic trade in early modern times and the second industrial revolution of the late 19th century, but those who made their wealth then are small in number compared to the recipients of inheritances. In such periods, predictably, merchants, entrepreneurs and financiers typically sought to use their new-found riches to try to insert themselves into the older elites – and to pass on their wealth to their children and grandchildren.
Read the rest of the review at HistoryToday.com.
Roderick Floud is the author of An Economic History of the English Garden (Allen Lane, 2019).
Guido Alfani, an economic and social historian at Bocconi University in Milan, deftly interweaves stories of individual and family wealth into his narrative. There is Alan Rufus, a companion of William the Conqueror, who controlled the staggering amount of more than seven per cent of the national income of England and was perhaps the richest man – other than monarchs – who ever lived in Britain; Elon Musk could not aspire to such wealth. Then there are the Medici of Florence, the Fuggers of Augsburg, together with the wealthy of the Netherlands, France and, overwhelmingly in recent decades, Americans: Andrew Carnegie, the Rockefellers, John Pierpont Morgan (who in 1907 single-handedly stopped the collapse of the American financial system) and most recently the tech billionaires.
The core of the book, however, is an analysis of how these men (and they were almost all men) built and maintained their fortunes, why they did so and what their societies thought of their achievements. Throughout two millennia most of the rich have been rich because of inheritance. They had rich fathers or uncles; the prime examples are nobles, closely associated with royal dynasties. There have been periods when great fortunes have been made, such as the opening up of Atlantic trade in early modern times and the second industrial revolution of the late 19th century, but those who made their wealth then are small in number compared to the recipients of inheritances. In such periods, predictably, merchants, entrepreneurs and financiers typically sought to use their new-found riches to try to insert themselves into the older elites – and to pass on their wealth to their children and grandchildren.
Read the rest of the review at HistoryToday.com.
Roderick Floud is the author of An Economic History of the English Garden (Allen Lane, 2019).
August 14, 2025
Really great read, love a history that covers a very niche topic and follows that since time began. It makes you think about the role of the ultra-wealthy, thought-provoking idea that wealthy people don't just come into existence on their own, society tolerates them given they fulfill specific functions e.g. providing "insurance" for society in emergencies for instance. One of the main arguments of the book is that the modern ultra-wealthy no longer feel a responsibility toward society, that was severed at I believe he identifies the founding the Federal Reserve, when previously titans like J. P. Morgan had saved the American economy.
December 31, 2025
A great conclusion to a somewhat cluttered historical telling of wealth throughout history. Worth the read to allow for the concluding remarks payoff in which I found compelling. But still, very well researched has the downsides of being stuffed with references to prior chapters which to me felt a bit tired going back every couple pages forward.
April 11, 2025
Money allows its possessors to arrange their lives as they plan. Within their set of priorities, those who have lots of money get to decide how they will use their bankroll to help others. When you are very very rich, you get to influence others in a major way. For instance, Andrew Carnegie famously created hundreds of parks and libraries throughout much of America.
This book outlines how the very very rich in the West have chosen to affect their fellow men. By Alfani's estimation, the rich rich have become increasingly rich and more and more averse to helping others over time.
This book outlines how the very very rich in the West have chosen to affect their fellow men. By Alfani's estimation, the rich rich have become increasingly rich and more and more averse to helping others over time.
December 30, 2024
Tema interessante. L'autore fornisce una visione molto ricca di dati e una analisi abbastanza complessa dei fenomeni che coinvolgono i ricchi e i super ricchi nelle società occidentali, nel corso della storia.
Purtroppo, però, il testo appare molto ripetitivo e dispersivo. Avrebbe avuto bisogno di un editing molto più incisivo. Questo rende la lettura faticosa e a tratti noiosa.
Purtroppo, però, il testo appare molto ripetitivo e dispersivo. Avrebbe avuto bisogno di un editing molto più incisivo. Questo rende la lettura faticosa e a tratti noiosa.
May 11, 2025
A few fun chapters. However the book drags, repeats itself, glosses over Colonization, slavery, and any sort of comparison of “Rich in the West” to alternatives, and how a history of wealth in the west may differ from other systems like eastern or middle eastern.
Interesting anecdotes, but lacks scope.
Interesting anecdotes, but lacks scope.
September 17, 2025
The rich have always had a difficult time "fitting in" society. No matter what they do, they will receive criticism. Consume too much, you're flaunting your wealth. Consume too little, your hoarding your gold (a la Uncle Scrooge MacDuck). Ignore politics, you're abandoning your fellow men. Get into politics, you're throwing your wealth around. That, is, the wealthy's power becomes "as gods among men."
To diminish the negative social appearances, the wealthy have employed many strategies in he history of Western civilization. Despite its allowances for pomp and wealth, once Christianity went mainstream with the Roman Empire, there always has been a tug against too much wealth. Jesus quite literally said, it's more likely for a camel to pass through the eye of a needle than to get into the kingdom of heaven. He told the rich man to literally sell all his wealth if he wanted to become his disciple.
So, the wealthy often did that. At the end or near the end of their lives, they would sell their wealth or devote it to perpetual charitable institutions. Some orphanages and hospitals in Italy are still run today from the money donated during the 16th century by a wealthy merchant.
The rich were allowed great inequality, as long as they fulfilled their moral duty to feed during famines, and take care of society during an emergency.
With the rise of modern capitalism, the modern entrepreneur reieceved their wealth, not through noblesse and rentier landownership, but often through their own invention and industry. A meritocratic ethic socially justified their accumulation.
With the decline of Christian influence, greater inequality became more accepted. Yet, we still find some folks like Carnegie, who wrote an essay, "The Gospel of Wealth" arguing the wealthy should be "the trustees" and care takers of the poor. And their wealth ought to bless society. Much of his wealth went to noble causes, such as building libraries in rural communities (my own Moscow, ID's library is a Carnegie Library). Note, that among the gilded age barrons, Carnegie was one of the few that actually was truly self made, not born to privilege.
Today, much of that agitation about inequality, the questionable perception of Musk and Bezos and the 1% comes from the recent handling of the financial crisis and Covid. The government assured the preservation of the wealthy's fortunes, unlike the wealth destruction we witnessed during say The Black Plague or the Great Depression. Yet, the government did so not via taxation (as would be the method for contributions of the rich in times of need) but by debt. Debt funded by the wealthy, and the wealthy who recieve the interest from it. Bezos benefited from e-commerce during Covid, yet his workers faced much of the health and financial blunt of the pandemic.
While criticisms of the wealthy will never cease entirely, there certainly is an argument that their moral position could be improved greatly by a recognition of the responsibility they hold to society. Western Civilization has long believed it so.
To diminish the negative social appearances, the wealthy have employed many strategies in he history of Western civilization. Despite its allowances for pomp and wealth, once Christianity went mainstream with the Roman Empire, there always has been a tug against too much wealth. Jesus quite literally said, it's more likely for a camel to pass through the eye of a needle than to get into the kingdom of heaven. He told the rich man to literally sell all his wealth if he wanted to become his disciple.
So, the wealthy often did that. At the end or near the end of their lives, they would sell their wealth or devote it to perpetual charitable institutions. Some orphanages and hospitals in Italy are still run today from the money donated during the 16th century by a wealthy merchant.
The rich were allowed great inequality, as long as they fulfilled their moral duty to feed during famines, and take care of society during an emergency.
With the rise of modern capitalism, the modern entrepreneur reieceved their wealth, not through noblesse and rentier landownership, but often through their own invention and industry. A meritocratic ethic socially justified their accumulation.
With the decline of Christian influence, greater inequality became more accepted. Yet, we still find some folks like Carnegie, who wrote an essay, "The Gospel of Wealth" arguing the wealthy should be "the trustees" and care takers of the poor. And their wealth ought to bless society. Much of his wealth went to noble causes, such as building libraries in rural communities (my own Moscow, ID's library is a Carnegie Library). Note, that among the gilded age barrons, Carnegie was one of the few that actually was truly self made, not born to privilege.
Today, much of that agitation about inequality, the questionable perception of Musk and Bezos and the 1% comes from the recent handling of the financial crisis and Covid. The government assured the preservation of the wealthy's fortunes, unlike the wealth destruction we witnessed during say The Black Plague or the Great Depression. Yet, the government did so not via taxation (as would be the method for contributions of the rich in times of need) but by debt. Debt funded by the wealthy, and the wealthy who recieve the interest from it. Bezos benefited from e-commerce during Covid, yet his workers faced much of the health and financial blunt of the pandemic.
While criticisms of the wealthy will never cease entirely, there certainly is an argument that their moral position could be improved greatly by a recognition of the responsibility they hold to society. Western Civilization has long believed it so.
April 21, 2025
Dust Jacket Hardcover
I learned about this book from the Youtuber Atrioc. Apparently, it was so dry that it killed his book club. That was absolutely no problem for me (humble brag). So, it was fascinating to see how wealth accumulation across history and various economies tended to be monotonic (moving in one direction) and upward trending. Generally, wars, famines, and credit crunches led to situations where wealth accumulation is disrupted and wealth basically evaporates. One example that the author brings up is the Black Death. During the era of the Black Death, wealth was locked in the land or with the merchants. With all the merchants basically erased due to the Black Death, with so many people dead, cheap land flooded the system and destroyed the land values held by landowners. Of course, war, famine, and credit crises do not always make all the rich worse off. There will always be winners and losers with risky or conservative positions that you can take. However, the rich tend to have the most attractive investment vehicles available to them, which is how they are able to capture the lion's share of the economic gains from a growing economy. Generally, the rich with good financial habits tend to persist and become financial dynasties, while the rich who engage in conspicuous philanthropy and conspicuous consumption end up fading into obscurity. The United States in the Golden Age of American Capitalism was unique. We were able to have a more equal distribution of wealth from the 1940s to the 1970s due to the high tax rates and financial reforms that started being implemented in the aftermath of the 1929 Financial Crisis. It feels weird to read so much about a utopian high-tax world that was undone by the California property tax riots.
P.S. Apparently there were different nobles throughout history. We had Nobles of the Robe (noblesse de robe) and Nobles of the Sword (noblesse d'épée). As always, the new wealth scared the old wealth and this in part contributed to the sumptuary law culture of Catholic Europe. You must wear according to your station in life that you were born into and should not upend the social order by partaking in conspicuous consumption meant for the nobles.
I learned about this book from the Youtuber Atrioc. Apparently, it was so dry that it killed his book club. That was absolutely no problem for me (humble brag). So, it was fascinating to see how wealth accumulation across history and various economies tended to be monotonic (moving in one direction) and upward trending. Generally, wars, famines, and credit crunches led to situations where wealth accumulation is disrupted and wealth basically evaporates. One example that the author brings up is the Black Death. During the era of the Black Death, wealth was locked in the land or with the merchants. With all the merchants basically erased due to the Black Death, with so many people dead, cheap land flooded the system and destroyed the land values held by landowners. Of course, war, famine, and credit crises do not always make all the rich worse off. There will always be winners and losers with risky or conservative positions that you can take. However, the rich tend to have the most attractive investment vehicles available to them, which is how they are able to capture the lion's share of the economic gains from a growing economy. Generally, the rich with good financial habits tend to persist and become financial dynasties, while the rich who engage in conspicuous philanthropy and conspicuous consumption end up fading into obscurity. The United States in the Golden Age of American Capitalism was unique. We were able to have a more equal distribution of wealth from the 1940s to the 1970s due to the high tax rates and financial reforms that started being implemented in the aftermath of the 1929 Financial Crisis. It feels weird to read so much about a utopian high-tax world that was undone by the California property tax riots.
P.S. Apparently there were different nobles throughout history. We had Nobles of the Robe (noblesse de robe) and Nobles of the Sword (noblesse d'épée). As always, the new wealth scared the old wealth and this in part contributed to the sumptuary law culture of Catholic Europe. You must wear according to your station in life that you were born into and should not upend the social order by partaking in conspicuous consumption meant for the nobles.
April 18, 2024
Great read about the rich and the super-rich throughout Western history. I enjoyed the book division on starting with the definitions and diverse approaches about the topic, then jumping to the paths to wealth and analysing the societal role played by the rich in various historical periods. I liked the author's storytelling approach to selecting some people to exemplify his ideas and presenting the different behaviours of rich people in given contexts. I also enjoyed the connections with the works of Piketty and Milanovic, whom I also read. I found the book a bit repetitive sometimes, but I guess the author revisited many case studies of rich people from different angles to display his ideas comprehensively. In a sense, as I listened to the audio-book version and occasionally flipped through the e-book, this was an excellent way to really solidify my comprehension of its content. So it was didactic somehow, but I understand this might inspire comments that the book could be more concise. Finally, I humbly believe the author super-estimates the fragility of the position of rich people in current Western societies and underestimates their power to shape and twist narratives in their favour, even gaining support from the masses or shaping ideologies on different political sides. Maybe this is my personal bias as a Brazilian. The wealth inequality in my country is appalling and even extremely mild efforts to implement wealth/income redistribution are met with great resistance, with the rich managing to secure benefits irrespective of the political zeitgeist of the past decades.
January 25, 2024
“As Gods Among Men” is a history of the rich and super rich, in the West. It covers the who, what, when, where, and how the rich rose to power and/or retained their wealth in Europe and North America, over the past 1000 years.
The book is based on a quantitative and a qualitative analysis of the wealthy in many countries, done in a very academic way. It refers to such seminal texts as Piketty’s “Capital” and Pomeranz’s “The Great Divergence” to help explain where these nobles, entrepreneurs, and financers came to wealth, how they kept their wealth, at what epochs did this happen, and how the game of acquiring and retaining wealth has changed.
Importantly, it asks the question about how long this world will tolerate the growing inequity between the rich and poor at a time when the world’s wealthy are much less willing to pay their fair share of taxes and support the larger societies and governments in which they are able to make and sustain their fortunes, when compared to previous eras.
The book’s author, Guido Alfani, is like Thomas Piketty, in that he sees violence and bloodshed ahead if the rich don’t change their current path of living separately and distinct from others.
The thing I liked best about the book was about how it reminded me that the wealthy are essential to our society because of the magnificent things they do, and the munificence they have offered to others. A great example of this were The Medici, who were wealthy bankers and powerful politicians, and yet sponsored the arts, architecture, and intellectuals of the Italian Renaissance. Moreover, many wealthy individuals and families have kept their societies from starving during famines and war. It's important to keep in mind the great things wealthy people do for our planet when the media generally has the viewpoint that the wealthy today are only takers and not givers.
There were also a few things I didn’t like about the book. I felt that it could have been more global with references provided for Asia, or at least a better explanation why the study did not include the wealthy beyond the West. There is data available, it is just more difficult for a European to access and understand due to language barriers. Moreover, Asians tend to have a very different way of thinking when it comes to wealth as was made apparent in Joseph Henrich’s very insightful book “The WEIRDest People in the World”.
I also found the book to be a bit heavy and tough to get through. One always must weigh the time invested in a book against the value obtained from it. I found that it was quite “a long walk for a short drink” when reading the book.
It’s a good book overall - especially if you are keen on better understanding the inequalities of wealth in this world – or at least the West – and what might become of this.
The book is based on a quantitative and a qualitative analysis of the wealthy in many countries, done in a very academic way. It refers to such seminal texts as Piketty’s “Capital” and Pomeranz’s “The Great Divergence” to help explain where these nobles, entrepreneurs, and financers came to wealth, how they kept their wealth, at what epochs did this happen, and how the game of acquiring and retaining wealth has changed.
Importantly, it asks the question about how long this world will tolerate the growing inequity between the rich and poor at a time when the world’s wealthy are much less willing to pay their fair share of taxes and support the larger societies and governments in which they are able to make and sustain their fortunes, when compared to previous eras.
The book’s author, Guido Alfani, is like Thomas Piketty, in that he sees violence and bloodshed ahead if the rich don’t change their current path of living separately and distinct from others.
The thing I liked best about the book was about how it reminded me that the wealthy are essential to our society because of the magnificent things they do, and the munificence they have offered to others. A great example of this were The Medici, who were wealthy bankers and powerful politicians, and yet sponsored the arts, architecture, and intellectuals of the Italian Renaissance. Moreover, many wealthy individuals and families have kept their societies from starving during famines and war. It's important to keep in mind the great things wealthy people do for our planet when the media generally has the viewpoint that the wealthy today are only takers and not givers.
There were also a few things I didn’t like about the book. I felt that it could have been more global with references provided for Asia, or at least a better explanation why the study did not include the wealthy beyond the West. There is data available, it is just more difficult for a European to access and understand due to language barriers. Moreover, Asians tend to have a very different way of thinking when it comes to wealth as was made apparent in Joseph Henrich’s very insightful book “The WEIRDest People in the World”.
I also found the book to be a bit heavy and tough to get through. One always must weigh the time invested in a book against the value obtained from it. I found that it was quite “a long walk for a short drink” when reading the book.
It’s a good book overall - especially if you are keen on better understanding the inequalities of wealth in this world – or at least the West – and what might become of this.
February 24, 2024
Guido Alfani presenta una obra magnifica. Es una gran historia de los ricos en occidente, como formaron sus fortunas, ascendieron a sus posiciones de privilegio y lograron sobrevivir y reproducirse capturando gran influencia y poder político. El libro es una historia del rol social de los ricos, su función y como la percepción del peligro que representan para la democracia y el potencial que tienen para "salvar" al Estado se contraponen con el paso de los siglos.
La mayor lección del libro es quizá que los ricos en occidente tradicionalmente aunque sufriendo rechazos han cumplido un rol social importante al servir a sus ciudades o países en momentos de guerras, conflictos y desastres, son "graneros de dinero" no obstante, en tiempos recientes, al menos durante el siglo XX y en el presente han ido perdiendo dicho rol. Cada vez son menos útiles a la sociedad lo que de forma automática implica un peligro para ellos, pues si no sirven un propósito las sociedades pueden darse cuenta de que son prescindibles.
La mayor lección del libro es quizá que los ricos en occidente tradicionalmente aunque sufriendo rechazos han cumplido un rol social importante al servir a sus ciudades o países en momentos de guerras, conflictos y desastres, son "graneros de dinero" no obstante, en tiempos recientes, al menos durante el siglo XX y en el presente han ido perdiendo dicho rol. Cada vez son menos útiles a la sociedad lo que de forma automática implica un peligro para ellos, pues si no sirven un propósito las sociedades pueden darse cuenta de que son prescindibles.
December 19, 2024
This was a pretty good book overall. While it doesn’t have as great of “story-telling” as other authors in the field (like Micheal Lewis), it makes up for it in more technical quantitative analysis. I was glad I bought a physical copy instead of reading on my kindle because the many charts, graphs other visual etc. that were provided really help complete the picture.
The first part of the book is the by far the worst, but I’m glad I pushed through because the rest of the book was great. I learned a lot about a bunch of new people I hadn’t heard of prior to reading.
The author asks some really thought provoking questions, such as how long our current society will tolerate the growing divide between the rich and the poor compared to previous eras.
I also appreciated that this book wasn’t just a complete “eat the rich” type book, and had some pretty compelling stories about times where extraordinarily rich people/families directly saved towns, cities and in some cases whole societies from collapse.
The first part of the book is the by far the worst, but I’m glad I pushed through because the rest of the book was great. I learned a lot about a bunch of new people I hadn’t heard of prior to reading.
The author asks some really thought provoking questions, such as how long our current society will tolerate the growing divide between the rich and the poor compared to previous eras.
I also appreciated that this book wasn’t just a complete “eat the rich” type book, and had some pretty compelling stories about times where extraordinarily rich people/families directly saved towns, cities and in some cases whole societies from collapse.
February 26, 2026
The first half of the book was extremely interesting and full of historical insights, the second half was very repetitive, the argumentation of the author was hard to decipher (on one hand, says that the ultra-rich inheritances are not taxed enough. Then says that actually inheritance taxes in the US and UK ascend to 40%, but because they are too high, they are avoided through donations. So what exactly is the point you are trying to make?) Some of it almost reads like a concealed Marxist apologetic. No problem in that, we are open-minded people who like to read many points of view, but just say it right from the beginning that it is a Marxist apologetic, and don't disguise it. The author starts the prologue by saying that it's not a book against the rich, and not a political apologetic book, but only a history of them in the West, but then spend the latter half of the book bashing them at every corner and always subjecting to unreasonable doubt any sort of donation or philanthropy done by them. Would be 5 starts for the first half, but unfortunately ends with 3.
December 31, 2025
1 Historically, super rich concentrated more percentages of overall wealth, Industrial Revolution only changed ways of enrichment.
2 No matter how innovated the entrepreneurs were, their offsprings always dedicated to finance or politics to sustain monopolies.
3 Big events’ alleviations toward disparity is waning, loads better protected by states recent 200 years. More severely, their normal duties to payback society is now called charity, truly historical distortion, both moral and political.
4 Donors inevitably carried politics control, then more rich-relied institutions, avoid fatal unfairness in economic opportunities. Forced taxation is the only proper way to rebalance.
5 Countless worries about super rich in west history, from Greece to now. Even god could be overthrown hundreds years ago, what technical measures can ensure the fragility forever?
2 No matter how innovated the entrepreneurs were, their offsprings always dedicated to finance or politics to sustain monopolies.
3 Big events’ alleviations toward disparity is waning, loads better protected by states recent 200 years. More severely, their normal duties to payback society is now called charity, truly historical distortion, both moral and political.
4 Donors inevitably carried politics control, then more rich-relied institutions, avoid fatal unfairness in economic opportunities. Forced taxation is the only proper way to rebalance.
5 Countless worries about super rich in west history, from Greece to now. Even god could be overthrown hundreds years ago, what technical measures can ensure the fragility forever?
May 7, 2026
Tldr: This is basicly a greatly written scientific article in bookform. Which, by the standards of books written for Educational Entertainment makes it a 4/5 for me.
A brilliant and rigorous scientific book, but *this is not pop science, this is just science*. And it has the strength and weaknesses, on would expect from this. While it is factual, unbiased and builds a very compelling theses, it is also incredibly dense. Do not confuse this with it beeing dry or uninteresting. It is just... A lot.
If this sounds like something you could enjoy, this is a must read. If you are interested in social science, economics and the like and a willing to fight through the denser parts it is great. And even if you only have a passing interest of the subjects, i recommend giving it a shot, and maybe just skim the parts you get bogged down in.
A brilliant and rigorous scientific book, but *this is not pop science, this is just science*. And it has the strength and weaknesses, on would expect from this. While it is factual, unbiased and builds a very compelling theses, it is also incredibly dense. Do not confuse this with it beeing dry or uninteresting. It is just... A lot.
If this sounds like something you could enjoy, this is a must read. If you are interested in social science, economics and the like and a willing to fight through the denser parts it is great. And even if you only have a passing interest of the subjects, i recommend giving it a shot, and maybe just skim the parts you get bogged down in.
October 7, 2025
The book promises to share some interesting facts about the richest people of Europe across different time periods.
It might have those facts in there, but sadly, I have not enjoyed the book, nor have I finished it. It's dry. It has pages upon pages about word definitions or about certain richness metrics that were used before. The author jumps over topics without any cohesion. Talks about one country in one time period, then about another country in another time period, back to the first country, back to explaining the definition of rich again, repeats the same thing over and over again.
The most boring book I have tried to read in years.
Not denying that the book might have interesting information on the topic.
It might have those facts in there, but sadly, I have not enjoyed the book, nor have I finished it. It's dry. It has pages upon pages about word definitions or about certain richness metrics that were used before. The author jumps over topics without any cohesion. Talks about one country in one time period, then about another country in another time period, back to the first country, back to explaining the definition of rich again, repeats the same thing over and over again.
The most boring book I have tried to read in years.
Not denying that the book might have interesting information on the topic.
August 24, 2026
The idea of the book is great, especially as a less technical alternative to Thomas Piketty's book on the dangers of increasing wealth inequality in the 21st century. But at some point it just goes over the same claims in circles, scattering them along the book together with other random facts, sometimes with very detailed figures, sometimes with very abstract claims. This makes it unfortunately way too long and requires a lot of effort to read the whole thing smoothly. Reading the introduction is already 80% of the information you will later get anyway... so, I can highly recommend the introduction!
May 5, 2025
As others have noted, it was repetitive - at times insufferably so. Anecdotes, like Vanderbilt’s assertion that a man who dies rich dies disgraced, were repeated to make points that had previously been made.
However, I’m glad I read this!
As a systematic analysis of the rich over time it helped me put more mainstream history books, like biographies of Gilded Age robber barons and medieval merchant dynasties, into perspective. I also enjoyed digging into the question “What does it mean to be rich” and the breakdown of the relative prevalence of different pathways to wealth across time.
However, I’m glad I read this!
As a systematic analysis of the rich over time it helped me put more mainstream history books, like biographies of Gilded Age robber barons and medieval merchant dynasties, into perspective. I also enjoyed digging into the question “What does it mean to be rich” and the breakdown of the relative prevalence of different pathways to wealth across time.
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