Sunday, November 16, 2014

Review - Wealth and Democracy: A Political History of the American Rich

Wealth and Democracy: A Political History of the American RichWealth and Democracy: A Political History of the American Rich by Kevin Phillips
My rating: 5 of 5 stars

I found Phillips writing of wealth and democracy illuminating, not because I was unaware of the degree to which wealth controls the government, but how it has changed over the years, and the degree to which war profiteering creates wealth. Reading this book, one can't help but notice that the past is repeating, and what it is repeating is ugly, corrupt, and wrong-headed.

As for others' criticisms that times are better for everyone, and that everyone does better when we all do better, that allowing egregious accumulation of wealth allows society to grow, well that is nonsense. I'm not an economics professional, although a member of an international economics honors society and a regular reader of economics books, but my own research indicates that such ideas, justifying gross inequality and the invisible hand, are false.

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