Our contemporary billionaires, most Americans would agree, are exploiting our labor and polluting our politics. Can we shrink our super rich down to a less powerful — and more democratic — size? Of course we can. We Americans, after all, have already done that before.
Between 1900 and the 1950s, average Americans beat down plutocrats every bit as dominant as ours. A century that began with huge private fortunes and most Americans living in poverty would come to see sweeping suburban developments where grand estates and mansions once stood.