“As a democracy the United States ought presumably to be able to dispense with dynastic families,” wrote Arthur Schlesinger junior, one of America’s best-known historians, in 1947. Yet almost 70 years on, next year’s presidential election could well become a family affair. A Clinton or a Bush has been on the ticket in seven of the past nine races. Hillary v Jeb may offend against equal opportunity, but not the laws of statistics.
How, people wonder, can this happen in a country that went to war to rid itself of a king’s hereditary authority? That is the wrong question. Around the world, in politics and business, power is still concentrated in the family. Power families and dynasties are here to stay. The question is how to ensure that they are a force for good.