Wendell Phillips: Corporate Wealth
on Friday, November 29, 2019Wendell Phillips Money Quote saying fear of corporate wealth due to influence over politicians. Wendell Phillips said:
“I confess that the only fear I have in regard to republican institutions is whether, in our day, any adequate remedy will be found for this incoming flood of the power of incorporated wealth” — Wendell Phillips
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In this quote, Wendell Phillips is expressing concern about the growing power and influence of large corporations in a democratic republic like the United States. He worries that as corporate wealth accumulates substantial economic power, it could potentially undermine political equality and self-governance by ordinary citizens.
Phillips seems to be suggesting that concentrated economic power in the hands of corporations, if left unchecked, may threaten the principles of a republic that is meant to serve the interests of individuals rather than private entities.
Overall, the quote conveys apprehension that “incorporated wealth” – referring to big businesses – could gain dominance over republican institutions if proper controls and remedies are not established to maintain a balance of power between ordinary people and powerful companies.
Birthday: November 29, 1811 – Death: February 2, 1884