Will the close bond between American wealth and political power result in an economic downturn?
7/1/2002
Arguing that "the debate over the compatibility of wealth and democracy is as old as the republic itself," economic commentator Kevin Phillips examines the integral bond between great wealth and political power in American history. Pointing out that most of the signers of the Declaration of Independence were from the colonies' richest families, Phillips goes on to trace the continued dominance of the rich over politics to the present day. Crossing centuries and borders, Phillips adroitly weaves a history of once-great economic powers felled by the undue influence of the wealthy on the political scene. In a world dominated by news of excessive CEO salaries, corporate wrongdoing, and 'inside' deals, Wealth and Democracy is a particularly timely and thought-provoking read.