It does not redeem the situation that these kings and chiefs of industry are not chosen upon the hereditary principle (sometimes, alas! they are) but are men who have risen by their own capacity, sometimes from utter obscurity, with the freedom of self-assertion which should characterize a free society. Their power is nonetheless arbitrary and irresponsible when obtained. That a peasant may become king does not render the kingdom democratic.
—Woodrow Wilson, 1910