Introduction: America’s Final Revolution: Reconstructing Jefferson’s Promise of Liberty.
Our book presents a thesis of American history of perpetual class conflict between common citizens and the natural aristocracy.
We use the analysis of W. J. Cash, in The Mind of the South, to explain that all American class conflicts can be interpreted as a three-stage chronology of economic collapse, common citizen rebellion, and restoration of the ruling class power.
The historical dynamic is explained by the ability of the financially wealthy families to transfer economic power to illegitimate political authority, under the guise of Madison’s constitution.
The first event of economic collapse is caused by excessive money creation, which leads wealthy people to speculate. The speculation causes the economy to collapse. The common citizens suffer job loss and lose their farms. The government then bails out the wealthy to restore the status quo.
The political model of Cash is easy to understand. In any small town, or larger political jurisdiction, a set of wealthy people control the political machinery to benefit themselves, to the disadvantage of common citizens.
In Aristotle’s description, America’s political system would be described as rule by the few. In the national government setting, the few control the levers of power through the “spoils” system, and control the national laws on the financial and banking system.
Cash applied his model to the historical era of reconstruction, when the ruling class in the South restored the image of the plantation in both society and industry, as a way of reasserting their political control over common citizens.