The administrative state as we now know it didn't exist yet so there was nothing for the robber barons to capture to cement their place. Oligarchs depend on th

The administrative state as we now know it didn't exist yet so there was nothing for the robber barons to capture to cement their place. Oligarchs depend on the administrative state for their security. The oligarch pays (bribes, political donations, what have you) the state $5 so that the state will spend $10 screwing the competition and then the oligarch's business will make $10. Of course I made these numbers up but the system by which these people hold power doesn't work if there isn't an administrative state with the power to fairly capriciously regulate the oligarch's business. The whole game is predicated on being able to buy unfair access state muscle. If the state is sitting on its ass there's no advantage to buying favor.