Over time, he warned, economic benefits accrued to the stronger, shrewder people in society, and if unrestrained by government, conditions would lead to “economic autocracy” and “political despotism.” Sounding a lot like the critics in our present who deplore the concentration of wealth among the top 1 percent of Americans, Wallace in 1936 argued that liberty was impossible if “36 thousand families at the top of the economic pyramid get as much income as 12 million families at the bottom.”25
It gets really depressing when I look at and hear things from decades or even centuries past that sound just as applicable to today as they did when they were originally drawn or written.
