BANKING
The Barings: The Rise of Modern Banking
The Rothschilds: Persistence, Tenacity, and Continuity
The Morgans: From Family Dynasty to the Partnership of Strangers
AUTOMOBILES
Ford: Wheels for Everyone
The Agnellis and Fiat: The Latin Pattern
Peugeot, Renault, and Citroën: French Car Dynasties
Toyoda: Toyota and the Rise of Automobiles in Japan
TREASURES OF THE EARTH
The Rockefellers: Luck, Virtue, and Piety
The Guggenheims: Treasures of Earth and Sky
The Schlumberger Saga: Brains, Luck, and Good Timing
The Wendel: Nobility and Industry
In some ways, all dynasties are alike. They are structures of blood relationship, often reinforced by marriage ties and adoption. The essence of the relationship lies in the nature of paternal governance: father, later grandfather, rests his authority on age, love, the habit of accepted power, the advantage of experience, the legal possession and control of assets. In dynasties that work well, these considerations make for a system of reciprocal trust, duty, habit, and affection transcending legal and even personal obligations, surpassing time and cultural environment, and surmounting generations. As we have seen, however, such systems don't always work well, and can run into emotional difficulties. These emotional clashes seem to be almost unavoidable, gaining force from both success and failure (ya can't win and can't afford to lose!), and it is the family's ability to deal with such clashes within the structure of the business that helps determine their success.