"I know this in particular is true. If only American families would learn to work together like this. How sad what WE have become."
I agree it's an old model that works well even today.
European immigrants in the US and Canada for that matter, have always built wealth this way.
The rules were quite simple.
Don't do business with strangers.
Don't go into debt unless the debtor is someone you know and trust who will stand by you if things go bad.
And if your business does well make sure your friends see some of the benifits of your good fortune.
It's no accident that Italians, Indians, Greeks and Germans are so successful in small business enterprises.
In Canada you could say the same of Iranians, Sikhs and more recently Native Indians. They take care of their own first.
It's a matter of family interests before the interests of the world at large.
Nothing wrong with that.