As depicted by Mr Beckert, gilded-age New York suggests that, in one respect, Alexis de Tocqueville judged too soon.
ECONOMIST: High society in New York
The Czech obliterated her opponents with a time of four minutes 02.53, over two seconds ahead of Germany's Stephanie Beckert, who took silver.
BBC: Martina Sablikova wins 3,000m speed skating gold medal
But that changed dramatically, Mr Beckert explains, in the second half of the 19th century, when a few very rich families came to exercise extraordinary influence.
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