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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.
The Bushes are the family nobody really knows, says Kevin Phillips. This popular lack of acquaintance-nurtured by gauzy imagery of Maine summer cottages, gray-haired national grandmothers, July Fourth sparklers, and cowboy boots-has let national politics create a dynasticized presidency that would have horrified America's founding fathers. They, after all, had led a revolution against a succession of royal Georges.In this devastating book, onetime Republican strategist Phillips reveals how four generations of Bushes have ascended the ladder of national power since World War One, becoming entrenched within the American establishment-Yale, Wall Street, the Senate, the CIA, the vice presidency, and the presidency-through a recurrent flair for old-boy networking, national security involvement, and political deception. By uncovering relationships and connecting facts with new clarity, Phillips comes to a stunning conclusion: The Bush family has systematically used its financial and social empire-its "aristocracy"-to gain the White House, thereby subverting the very core of American democracy. In their ambition, the Bushes ultimately reinvented themselves with brilliant timing, twisting and turning from silver spoon Yankees to born-again evangelical Texans. As America-and the world-holds its breath for the 2004 presidential election, American Dynasty explains how it happened and what it all means.
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.
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
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