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 the nation's most perceptive thinkers, reviewers have called him a latter-day Nostradamus and our "modern Thomas Paine." Now, in the first major book of its kind since the 1930s, he turns his attention to the United States' history of great wealth and power, a sweeping cavalcade from the American Revolution to what he calls "the Second Gilded Age" at the turn of the twenty-first century.

The Second Gilded Age has been staggering enough in its concentration of wealth to dwarf the original Gilded Age a hundred years earlier. However, the tech crash and then the horrible events of September 11, 2001, pointed out that great riches are as vulnerable as they have ever been. In Wealth and Democracy, Kevin Phillips charts the ongoing American saga of great wealth–how it has been accumulated, its shifting sources, and its ups and downs over more than two centuries. He explores how the rich and politically powerful have frequently worked together to create or perpetuate privilege, often at the expense of the national interest and usually at the expense of the middle and lower classes.

With intriguing chapters on history and bold analysis of present-day America, Phillips illuminates the dangerous politics that go with excessive concentration of wealth. Profiling wealthy Americans–from Astor to Carnegie and Rockefeller to contemporary wealth holders–Phillips provides fascinating details about the peculiarly American ways of becoming and staying a multimillionaire. He exposes the subtle corruption spawned by a money culture and financial power, evident in economic philosophy, tax favoritism, and selective bailouts in the name of free enterprise, economic stimulus, and national security.

Finally, Wealth and Democracy turns to the history of Britain and other leading world economic powers to examine the symptoms that signaled their declines–speculative finance, mounting international debt, record wealth, income polarization, and disgruntled politics–signs that we recognize in America at the start of the twenty-first century. In a time of national crisis, Phillips worries that the growing parallels suggest the tide may already be turning for us all.


From the Hardcover edition....

A bestselling historian and political commentator reconsiders McKinley's overshadowed legacy

By any serious measurement, bestselling historian Kevin Phillips argues, William McKinley was a major American president. It was during his administration that the United States made its diplomatic and military debut as a world power. McKinley was one of eight presidents who, either in the White House or on the battlefield, stood as principals in successful wars, and he was among the six or seven to take office in what became recognized as a major realignment of the U.S. party system.

Phillips, author of Wealth and Democracy and The Cousins' War, has long been fascinated with McKinley in the context of how the GOP began each of its cycles of power. He argues that McKinley's lackluster ratings have been sustained not by unjust biographers but by years of criticism about his personality, indirect methodologies, middle-class demeanor, and tactical inability to inspire the American public. In this powerful and persuasive biography, Phillips musters convincing evidence that McKinley's desire to heal, renew prosperity, and reunite the country qualify him for promotion into the ranks of the best chief executives.
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In his acclaimed book American Theocracy, Kevin Phillips warned of the perilous interaction of debt, financial recklessness, and the spiking cost (and growing scarcity) of oil— warnings that are proving to be frighteningly accurate. Now, in his most significant and timely book yet, Phillips takes the full measure of this crisis. They are a part of what he calls “bad money”— not just the depreciated dollar, but also the dangerous attitudes and the flawed products of wayward mega-finance. His devastating conclusion: In its hubris, the financial sector has hijacked the American economy and put our very global future at risk—and it may be too late to stop it....

A strikingly fresh and revisionist explanation for the rise of Anglo-America as the dominant cultural and political force in the world today by the bestselling author of The Politics of Rich and Poor.

The question at the heart of The Cousins' Wars is this: How did Anglo-America evolve over a mere three hundred years from a small Tudor kingdom into a global community with such a hegemonic grip on the world today, while no other European power-Spain, France, Germany, or Russia-did? The answer to this, according to Phillips, lies in a close examination of three internecine English-speaking civil wars-the English Civil War, the American Revolution, and the American Civil War. These wars between cousins functioned as crucial anvils on which various religious, ethnic, and political alliances were hammered out between the English-speaking cousin-nations, setting them on a unique two-track path toward world leadership-one aristocratic and aloof to dominate the imperial nineteenth century and the other more egalitarian and democratic to take over in the twentieth century. They also functioned as unfortunate and deadly cultural crucibles for African Americans, Native Americans, and the Irish.

Phillips's analysis shows exactly how these conflicts are inextricably linked and how they seeded each other. He offers often surprising interpretations that cut across the political spectrum-for instance, that the Constitution of the United States, while brilliant in many respects, was also a fatally flawed political compromise that contributed mightily in setting the stage for the final-and the bloodiest-cousins' war: the American Civil War.

With the new millennium upon us and triggering widespread assessment of our nation's place in world history, The Cousins' Wars provides just the kind of magisterial sweep and revisionist spark to ignite widespread interest and debate. This grand religious, military, and political epic is the multi-dimensional story of the triumph of Anglo-America....