Look in details please.?

Question

Are robber barons essential to capitalism? Do you think is it a necessary stage for developing economies to go through (think Russia)? Or does greed carry the seeds of economic ruin?

Answer 1

No,  robber barons are not essential to capitalism.

No, it is not a necessary stage for developing economies to go through (think Russia).

Yes, greed when it slowly pervades the different strata of the society carry the seeds of economic ruin.  Afew greedy persons becoming successful and wealthy does not ruin an economy but nationalisation and mass socialisation of corruption and inefficiencies has and will cause economic ruin as it happened in China and India (may happen again).