By Kevin Phillips
For greater than thirty years, Kevin Phillips' perception into American politics and economics has helped to make historical past in addition to list it. His bestselling books, together with The rising Republican Majority (1969) and The Politics of wealthy and Poor (1990), have prompted presidential campaigns and adjusted the way in which the United States sees itself. broadly acknowledging Phillips as one of many nation's such a lot perceptive thinkers, reviewers have referred to as him a latter-day Nostradamus and our "modern Thomas Paine." Now, within the first significant booklet of its variety because the Nineteen Thirties, he turns his recognition to the United States' heritage of serious wealth and gear, a sweeping cavalcade from the yank Revolution to what he calls "the moment Gilded Age" on the flip of the twenty-first century.
The moment Gilded Age has been mind-blowing adequate in its focus of wealth to dwarf the unique Gilded Age 100 years past. even if, the tech crash after which the terrible occasions of September eleven, 2001, mentioned that fab riches are as susceptible as they've got ever been. In Wealth and Democracy, Kevin Phillips charts the continuing American saga of significant wealth–how it's been collected, its moving resources, and its ups and downs over greater than centuries. He explores how the wealthy and politically strong have usually labored jointly to create or perpetuate privilege, frequently on the price of the nationwide curiosity and customarily on the rate of the center and reduce classes.
With fascinating chapters on historical past and ambitious research of present-day the USA, Phillips illuminates the harmful politics that compliment over the top focus of wealth. Profiling filthy rich Americans–from Astor to Carnegie and Rockefeller to modern wealth holders–Phillips offers interesting information about the mainly American methods of turning into and staying a multimillionaire. He exposes the sophisticated corruption spawned by way of a funds tradition and fiscal energy, obvious in monetary philosophy, tax favoritism, and selective bailouts within the identify of unfastened firm, financial stimulus, and nationwide security.
Finally, Wealth and Democracy turns to the background of england and different top international monetary powers to check the indications that signaled their declines–speculative finance, mounting overseas debt, checklist wealth, source of revenue polarization, and disgruntled politics–signs that we realize in the US initially of the twenty-first century. In a time of nationwide main issue, Phillips concerns that the turning out to be parallels recommend the tide might already be turning for us all.