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Wealth and Democracy: A Political History of the American Rich
For more than thirty years, Kevin Phillips' insight into American politics and economics has helped to make history as well as record it. His bestselling books, including The Emerging Republican Majority (1969) and The Politics of Rich and Poor (1990), have influenced presidential campaigns and changed the way America sees itself. Widely acknowledging Phillips as one of t...more
Paperback, 496 pages
Published
April 8th 2003
by Broadway
(first published 2002)
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Phillips highlights the dangerous and sometimes absurd trail of political and financial corruption from the colonial era to the present. With some great exceptions, American policy has been affected by the wealthy's undue influence and all too close relationship to elected officials. To my knowledge, Clinton taking that hedge fund position marks the first time a former President has entered the financial sector after his term (though this is common place for legislative figures). This should pro...more
A must read for anyone interested in hanging on to the fragile democracy we are left with after 25 years or so of allowing the rich to pretty much get away with anything and everything. The growing economic inequalities in America should scare the living shit out of anyone who makes less than about $500,000 a year. Of course, all of the neo-con trailer trash in America think that they are a lottery ticket away from joining that club. Good luck, assholes.
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It's easy to dismiss talk of "wealth inequality" as socialist claptrap, but this book demonstrates the real dangers that America's rising rate of inequality can lead to. The author convincingly draws worrisome parallels between today's America and the state of pre-economic decline mid-18th century Holland and late 19th century England. In short, the same factors that brought the mighty Dutch and English economies to their knees are abundantly at play in America today. For the sake of l...more
The title of this book says it all: this book looks at wealth formation and the relationship of money to politics. Its strength is in the former, showing how most of the early American fortunes were made in some relationship to the state (supplying the continental army, privateering, etc), and how wars and major political re-alignments (New Deal, election of Reagan) shift where and how the richest fortunes are accumulated. On the whole, the book shows the powerful effect of the Federal governm...more
The title of this book says it all: this book looks at wealth formation and the relationship of money to politics. Its strength is in the former, showing how most of the early American fortunes were made in some relationship to the state (supplying the continental army, privateering, etc), and how wars and major political re-alignments (New Deal, election of Reagan) shift where and how the richest fortunes are accumulated. On the whole, the book shows the powerful effect of the Federal governm...more
timely reading this year of election.
It got me hot.
This contains Reams of data of cycles of economic periods of the mercantile states of the west since the Renaissance but focusing of course on America and it's cycles in economic boost-and-bum.
Of the several periodic growths of the US economy, in Jackson's time, and after the civil war thru the time of the plutocrats by 1890, again is paralleled the mighty 20th century cycle of growth which on the one hand both took on and then...more
It got me hot.
This contains Reams of data of cycles of economic periods of the mercantile states of the west since the Renaissance but focusing of course on America and it's cycles in economic boost-and-bum.
Of the several periodic growths of the US economy, in Jackson's time, and after the civil war thru the time of the plutocrats by 1890, again is paralleled the mighty 20th century cycle of growth which on the one hand both took on and then...more
A poorly written, but absolutely amazing book! If I could, I would give the information in this book five stars, and the writing one star. Phillips, who used to be a prominent conservative, has turned into a wild-eyed Bush-hating populist. He's still roughly a fiscal conservative, but he's also become a scholar who is deeply interested in the history of wealth and money. This is the finest book I've read on the subject, but it is NOT fun reading.
Noted economist Kevin Phillips "follows the money" from Greater Spain of the mid 1500s,through the Dutch and British empires and on to the U.S. He documents similiarities in the fall from economic power and layes a road to follow to the future. Great foundational economic and political read.
If you have wondered if the recent US economic pain has historical global parallels, the answer is yes. Over the centuries, Spain, Holland and England have all made the catastrophic shift from making money from real goods and services, providing for the middle class, to profits generated from moving money around, resulting in extreme polarization of wealth and ultimately the collapse of their global economic leadership. Interestingly, the countries all exacerbated the problem by racking up debt ...more
This book is full of information about inequality and extreme wealth in the United States. Some chapters go into more detail than I needed (for example, detailing the origin of great fortunes and the names of the top wealth owners in Britain and the United States in the 18th-19th centuries), but I can't hold it against the author, the book is, after all 400+ pages long. Phillips discussion of wealth inequality, and the relationship between money and political power is timely and fascinating. ...more
How the new gilded age could ruin America. Written, and painstakingly footnoted by one of Richard Nixon's men. This is a must for fan's of Paul Krugman.
This book is more relevant today than when it was written 6 years ago. From my take so far, this country is in big trouble
Joel
is currently reading it
I've started it about three times but it's just not interesting. One more try and it's a goner
Good read - full of the story of power - based on money - plays and has played in our country.
A great overview of the sweep of economic history. (read prior to the date indicated)
Ely
added it
A must read for anyone who call themselves a responsible American citizen.
Brett Decker
added it
good long book eye opening
It took me forever to get into & understand this book. I'm glad that I stuck with it though because I found it very interesting & educational.
I was gonna give it 5 stars, but I knocked it down to four because it is a little dry and repetitive. None-the-less, this book gives an incredibly thorough and unique accounting of much of what we take for granted as our American History. And most of it is not dry at all. Think of it as a less radical, more reasonable version of Zinn's "People's History"
Phillips writes for those familiar with the terrain of economic history. I had started this book some time ago and put it down. After taking a class on econ hist US 1880-present, I picked it back up. MUCH better the second time around. Lesson: it takes much better writing than this to make this subject interesting for anyone not passionate about it.
An excellent historical perspective of economics systems from the Spanish Inquisition, the first modern stock exchanges of the Dutch, British Imperialism, and the rise of American economic and financial dominance as well as indicators of its waning power.
Answers the question being debated now - is Obama going to reditribute the Wealth - according to this book we have histroical done that and the current woes may be related to the lack of that redistribution
Plus ca change, plus ca la meme chose... A masterful work of political economy. You may think that you understand the history of class in the United States, but unless you've read Phillips' book, you are simply wrong.
this book is loaded with facts. it shows, over and over, that the super rich 1% control income and wealth in this country. the pattern follows closely on that seen in england, holland, and even spain before us.
I like Phillips but this one I just did not have time to finish. It came from the library and I really did not want to renew. My just have to buy sometime.
high 2 stars, low 3.
long read, had to grind out finish.
but educational.
growing gap btwn rich and poor = bad.
long read, had to grind out finish.
but educational.
growing gap btwn rich and poor = bad.
Kevin Phillips has written many books you should check out, including this one.
Ronald Reagan Advisor
Read more Kevin Phillip books.
Read more Kevin Phillip books.
Great for anyone attempting to truly understand how economics dictate the real decisions behind politics; from the get go. KP is a former conservative writer (served w/Nixon) and offers an insightful look into the machinations of politicians and their parties.
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Kevin Phillips is an American writer and commentator, largely on politics, economics, and history. Formerly a Republican Party strategist, Phillips has become disaffected with his former party over the last two decades, and is now one of its harshest critics. He is a regular contributor to the Los Angeles Times and National Public Radio, and is a political analyst on PBS' NOW with Bill Moyers.
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