How Gilded Ages End

Protecting democracy from oligarchic dominance is, once again, a central imperative of American politics.

By Paul Starr

Rising inequality seems to pose an insurmountable political problem. If the underlying causes are technological change and globalization, the forces appear to be unstoppable. Alternatively, if the causes are primarily political and involve the power of corporate and financial interests, the forces driving inequality may also appear to be overwhelming. Some people may conclude in despair that, for all practical purposes, nothing can be done.

That conclusion, however, is unjustified for two reasons—first, because things have been and can be done to check increased inequality even in the short term; and second, because limiting the political power of concentrated wealth is a cause with deep American roots and wide support that is a difficult but achievable long-term goal.