Smothered by Riches: How America went from Democracy rules to Money rules

by Peter Coyote, Steven Rosenfeld

This revised and expanded edition of Smothered in Riches is the story of a systematic and disciplined effort on the part of an extremely wealthy group of Americans, to do several things. One, is to see that ruling the United States is done according to principles and beliefs that benefits their class and interests. They are a largely invisible group, present in America from its earliest days, but America’s post-WWII victory delivered into their hands enormous resources. These have been amplified by their anti-democratic impulses and belief that “they” as a group, are “the right sort” to lead and bend the populace (which they tend to regard as an unlettered mob) to their will.
They coalesced recently in opposition to Franklin Delano Roosevelt’s New Deal and have never weakened their efforts to defeat its democratic and universal faith in working people. This aspect of the story begins with a letter written by Lewis Powell to the US Chamber of Commerce, decrying the failure of free enterprise to stand up for itself against veins of liberalism swelling the country as unpopular wars; the rights of minorities and women, the demands of the environmental movement began compelling citizens to behave in ways that flouted the values of the ruling elites.
Funded by young billionaires they went on to construct a 65-year-long disciplined assault on liberalism, the unshapely fruit of which terminated in the second election of Donald Trump to the Presidency. It is easier to understand the damage he has been able to wreak on our institutions when we understood that the organizing principle of American values is often the accumulation of riches rather than a true understanding of wealth. Where we are today, is no accident. The failure of successive generations to protect our political system from the overwhelming power of money has brought us to this pass.

135 pages, Kindle Edition

Published May 18, 2025

About the author

Ordained practitioner of Zen Buddhism, activist, and actor, Peter Coyote began his work in street theater and political organizing in San Francisco. In addition to acting in 120 films, Coyote has won an Emmy for narrating the award-winning documentary Pacific Century, and he has cowritten, directed, and performed in the play Olive Pits, which won The Mime Troupe an Obie Award. He lives in Mill Valley, California."

Reviews

[Peter Coyote]

I think that all the reviews entered for these books are generated by AI and do not trust them. I ran everyone through a ChatGTP AI detector and all cleared with a “high probability” of being AI. I couldn’t locate a single person on Social Media or facebook, and warn readers not to trust the reviews. Trying to find the right place to complain at Goodreads.
All the bank information was in the name of someone from Lagos Nigeria. The “freelancer” used different names, wanted to be paid in bitcoin, and basically stiffed me for $640 for AI reviews.

[Jacob Reed]

Coyote and Rosenfeld have crafted a book that is both thorough and compelling. Smothered by Riches examines the deliberate ways in which wealth has influenced American political life for generations. From the post WWII consolidation of resources to the opposition against progressive policies, the book shows how power and money have often dictated political priorities. I particularly enjoyed the authors’ focus on strategy: how letters, memoranda, and careful coordination over decades have steered the nation in ways most citizens never see. It’s a sobering reminder of how invisible forces can shape public policy and social norms. For readers interested in history, politics, or the mechanisms of power, this book is an invaluable resource.

[Matthew Davis]

This book provides a detailed and persuasive argument about the ways concentrated wealth has guided U.S. politics. Coyote and Rosenfeld trace a deliberate campaign by the elite class to ensure that policy and governance serve their interests. The narrative covers historical events, influential figures, and ideological movements in a way that highlights the long-term planning behind seemingly spontaneous political shifts. It’s an eye opening read, though at times the level of detail may feel overwhelming. Nonetheless, it’s a powerful resource for understanding the intersection of money and democracy.

[Jessica Williams]

Coyote and Rosenfeld provide a meticulously researched account of America’s moneyed elite and their influence on politics. Smothered by Riches explains the strategies used to oppose the New Deal, influence legislation, and shape elections. The book’s strength lies in connecting historical events with the modern political climate, helping the reader understand how money often trumps democratic ideals. While dense, the book rewards readers with an eye opening perspective on the systemic nature of wealth and power in America.