Volume 49, Number 12 · July 18, 2002
The Power of the Super-Rich
By Jeff Madrick
Wealth and Democracy: A Political History of the American Rich
by Kevin Phillips
Broadway Books, 473 pp., $29.95
The great hope of some reform-minded Americans is that there will be, sooner or later, a political backlash against rising inequality in America. Kevin Phillips, a former Republican adviser, is one of these. A principal aim of his wise if sprawling new book, Wealth and Democracy, is to show that the growth of private wealth in the 1990s was analogous to the rise of private wealth in previous eras, especially the Gilded Age of the late nineteenth century and the 1920s.
Review, 3988 words
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