Guest editorial by Ernest A. Canning
The title of historian Kevin Phillips' otherwise excellent work, Wealth and Democracy: A Political History of the American Rich, is somewhat misleading. With the exception of constitutional monarchies, which preclude royalty from all but figurehead status, democracy and the concentration of great wealth cannot co-exist in the same society.
If citizens can see past the corporate media-erected contest of personalities so as to examine how it reflects the undemocratic structure of our society, the 2012 Presidential election can provide us with a teachable moment of great value. This is true whether we examine the flood of SuperPAC monies, courtesy of the now infamous Citizens United decision, the striking similarities in their methodology of wealth acquisition depicted both in the 1987 movie Wall Street through its fictional Gordon Gekko and in real life by Bain Capital and Mitt Romney, the ridiculously low 13.9% federal taxes on Romney's $21.7 million income in 2010, his extensive Goldman Sachs holdings and as much as $32 million maintained in off-shore accounts, or the fact that only one, essentially marginalized Presidential candidate in either of the two major political parties --- Ron Paul --- is willing to discuss an end to perpetual war and our global military presence.
Here, Mitt "Gordon Gekko" Romney provides the principle focus, not because of personality, or "envy", but because his candidacy affords an opportunity to explore the inconsistency between wealth and democracy...