A proletarianized citizenry ruled by a class of insolent plutocrats is incompatible with the republican form of government established by the US Constitution. Without an effective majority of citizens who own property and whose character has been shaped by property ownership—a vibrant middle class—the Founders’ Constitution will not survive. Our current age of Plutocratic Socialism is a specific manifestation of a pathology the Founders feared. Recovery must begin with a simple, yet profound, axiom: private property and political freedom stand or fall together.

A Financial Times Best Book of the Year Shortlisted for the Lionel Gelber Prize There has always been some gap between rich and poor in this country, but recently what it means to be rich has changed dramatically. Forget the 1 percent—Plutocrats proves that it is the wealthiest 0.1 percent who are outpacing the rest of us at breakneck speed. Most of these new fortunes are not inherited, amassed instead by perceptive businesspeople who see themselves as deserving victors in a cutthroat international competition. With empathy and intelligence, Plutocrats reveals the consequences of concentrating the world’s wealth into fewer and fewer hands. Propelled by fascinating original interviews with the plutocrats themselves, Plutocrats is a tour de force of social and economic history, the definitive examination of inequality in our time.

First published in 1952, this work has taken its place as the standard history of the Socialist Party to 1912. The American Socialist Party, at the height of its power, had more than a hundred and fifty thousand members, published hundreds of newspapers, won almost a million votes for its presidential candidate, elected more than one thousand of its members to political office, secured passage of a considerable body of legislation, won the support of one-third of the American Federation of Labor, and was instrumental in organizing the Industrial Workers of the World. It counted in its ranks some of the most talented organizers, able thinkers, and colorful personalities of their generation, conducted an immense propaganda effort, and, for a time, multiplied its support and influence at an astounding pace. The rise and decline of the Socialist Party constitutes a most important and instructive chapter in American history. Few books have more to offer to the student of the movement than this one.