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"One of the most important and controversial books in modern American politics, The Emerging Republican Majority (1969) explained how Richard Nixon won the White House in 1968--and why the Republicans would go on to dominate presidential politics for the next quarter century. Rightly or wrongly, the book has widely been seen as a blueprint for how Republicans, using the so-called Southern Strategy, could build a durable winning coalition in presidential elections. Certainly, Nixon's election marked the end of a "New Deal Democratic hegemony" and the beginning of a conservative realignment encompassing historically Democratic voters from the South and the Florida-to-California "Sun Belt," in the book's enduring coinage. In accounting for that shift, Kevin Phillips showed how two decades and more of social and political changes had created enormous opportunities for a resurgent conservative Republican Party. For this new edition, Phillips has written a preface describing his view of the book, its reception, and how its analysis was borne out in subsequent elections. A work whose legacy and influence are still fiercely debated, The Emerging Republican Majority is essential reading for anyone interested in American politics or history."--

"One of the most important and controversial books in modern American politics, The Emerging Republican Majority (1969) explained how Richard Nixon won the White House in 1968--and why the Republicans would go on to dominate presidential politics for the next quarter century. Rightly or wrongly, the book has widely been seen as a blueprint for how Republicans, using the so-called Southern Strategy, could build a durable winning coalition in presidential elections. Certainly, Nixon's election marked the end of a "New Deal Democratic hegemony" and the beginning of a conservative realignment encompassing historically Democratic voters from the South and the Florida-to-California "Sun Belt," in the book's enduring coinage. In accounting for that shift, Kevin Phillips showed how two decades and more of social and political changes had created enormous opportunities for a resurgent conservative Republican Party. For this new edition, Phillips has written a preface describing his view of the book, its reception, and how its analysis was borne out in subsequent elections. A work whose legacy and influence are still fiercely debated, The Emerging Republican Majority is essential reading for anyone interested in American politics or history."--

In American Theocracy, Kevin Phillips warned us of the perilous interaction of debt, financial recklessness, and the increasing cost of scarce oil. The current housing and mortgage debacle is proof once more of Phillips's prescience, and only the first harbinger of a national crisis. In Bad Money, Phillips describes the consequences of our misguided economic policies, our mounting debt, our collapsing housing market, our threatened oil, and the end of American domination of world markets. America's current challenges (and failures) run striking parallels to the decline of previous leading world economic powers—especially the Dutch and British. Global overreach, worn-out politics, excessive debt, and exhausted energy regimes are all chilling signals that the United States is crumbling as the world superpower. "Bad money" refers to a new phenomenon in wayward megafinance—the emergence of a U.S. economy that is globally dependent and dominated by hubris-driven financial services. Also "bad" are the risk miscalculations and strategic abuses of new multitrillion-dollar products such as asset-backed securities and the lure of buccaneering vehicles like hedge funds. Finally, the U.S. dollar has been turned into bad money as it has weakened and become vulnerable to the world's other currencies. In all these ways, "bad" finance has failed the American people and pointed U.S. capitalism toward a global crisis. Bad Money is the perfect follow- up to Phillips's last book, whose dire warnings are now proving frighteningly accurate.