In celebrating America’s 250th anniversary, it is vital to reflect on both the triumphs and failures that define our history. From the very beginning, the nation has been a battleground between ordinary individuals seeking justice and those in power intent on maintaining the status quo. As we mark this milestone, it’s essential to recognize the enduring spirit of resistance that has characterized our journey.
Yves here. It would be wonderful if the headline resonated with deeper truth. As Alexis de Tocqueville observed in his writings about early America, the culture was largely mercenary, with many individuals striving to improve their circumstances. Certain regions of the U.S., particularly those settled by immigrants from countries with strong communal traditions—like the areas in the upper Midwest settled by Scandinavians—still exhibit an egalitarian spirit, as illustrated by the existence of the Bank of North Dakota, the last remaining state bank.1
The U.S. has a complicated history, including a lengthy period marked by harsh measures against rising labor unions. Major companies, such as Ford, employed private armies, with Pinkerton acting as hired enforcers. The railroad boom in the late 1800s, characterized by excess stock sales rather than actual transit operations, led to overbuilding and subsequently triggered the Long Depression. Many farmers recognized that the gold standard worsened their financial struggles, advocating for the inclusion of silver as currency, with William Jennings Bryan as their chief proponent. Nonetheless, this hard-fought battle ultimately did not prevail.
While the Fourth of July is a time to celebrate America’s positive qualities, it is crucial not to overlook the historical realities.
By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website
Our heritage includes a relentless drive to resist the whims of the wealthy, oligarchs, and anyone imposing their will upon the general populace.
“If you’re a billionaire, why are you a billionaire?” ~American singer-songwriter Billie Eilish
“This land was made for you and me.” ~American folk singer-songwriter Woody Guthrie
The upcoming anniversary of America’s founding stirs complex emotions. Some wish to gloss over our missteps, while others are consumed by our shortcomings, neglecting to celebrate our achievements. That would be a mistake, as there are significant milestones worth commemorating.
Since the earliest days of colonial America, the resolve of everyday people to stand up against the privileged few—fatcats, oligarchs, and profiteers—has been remarkable.
Time and again, we have raised our voices for fair compensation for our hard work and the opportunity to live with dignity. Conversely, a small elite has consistently aimed to accumulate wealth for themselves. This ongoing contest shapes American history, manifesting in conflicts over power and resources.
Personally, I grew up near the site of the Battle of Alamance, a significant early confrontation in North Carolina between its common folk and colonial elites. The Regulators, as they were known, comprised primarily small farmers and laborers from the backcountry. For years, they sought redress through petition and complaint, facing unjust taxes, land misappropriation, and a corrupt government. The political landscape seemed rigged in favor of the powerful—does this sound familiar?
Herman Husband was among the Regulators’ prominent figures. A zealous farmer and pamphleteer, he galvanized the angry public, transforming individual grievances into organized resistance while asserting that ordinary citizens had both the right and obligation to confront corrupt powers. “Now show yourselves to be Freemen,” he implored, “and for once assert your Liberty and maintain your rights.”
One of the key grievances dealt with Governor William Tryon’s extravagant plans for a new palace in New Bern, inspired by lavish English estates. While the Regulators did not oppose taxation as a principle, they resented funding a grandiose mansion when many struggled to make ends meet.
While the powdered wigs have disappeared, the sentiment remains. Today, Americans are once again outraged over public funds being squandered on extravagant projects tied to influential political figures, such as President Trump’s opulent ballroom.
At Alamance, the Regulators took up arms against their oppressors, only to face overwhelming military might. Their resistance was brutally suppressed, yet the spirit of their uprising did not perish along with them. Elements of this defiance would later help fuel the American Revolution itself.
To gain more insight into America’s complex history, I spoke with historian William Hogeland. He maintains that the early narrative of the nation was less about patriotic ideals and more about open struggle for power and wealth. In his recent examination of Alexander Hamilton, for instance, he critiques the widely accepted notion of Hamilton as a champion for others, highlighting his role in perpetuating a system favoring concentrated financial power.
Hogeland delves into the nuanced struggle surrounding the Declaration of Independence, arguing that it was not only a battle against British rule but also entailed internal conflicts among Americans. He posits that the quest for independence was, in many ways, shaped by the tension between affluent leaders like John Adams and the common people who sought a fairer deal. This multifaceted conflict remains one of the Revolution’s crucial yet overlooked elements.
The unlikely partnership of Thomas Paine and the wealthy John Adams during the summer of 1776 exemplified this tension. Though they loathed each other for their differing ideologies—Adams viewed Paine’s democratic ideas as dangerously extreme—they found common ground in their mutual pursuit of independence. As the Declaration took shape, their shared commitment to break from British control briefly overshadowed their ideological rift. However, once independence was achieved, the animosity resurfaced.
When I ask Hogeland about what inspires him as America reaches this significant milestone, he underscores the human struggle and the unpredictable nature of our past.
“It’s the concept of people making something from nothing, reacting to events without discernable plans yet choosing to stand up and take action—that’s what motivates me. I often find myself drawn to tragic figures like Husband and Paine, who devoted themselves to causes that ultimately led to their unhappiness. The lesser-known heroes of history are equally compelling; I’m motivated to reintegrate those forgotten voices into our national narrative.”
He highlights individuals like Christopher Marshall, a Philadelphia apothecary whose vivid diary portrays the era’s complexities, and James Cannon, a Philadelphia educator who represented the revolutionary spirit’s intellectual side, advocating for accountability, civic engagement, and educational access.
Hogeland frequently returns to instances where ordinary Americans rose against systems favoring entrenched elites post-independence. During the frigid winter of 1787, armed farmers—many of whom were Revolutionary War veterans—marched to shut down courthouses that enforced debt collection and threatened their livelihoods. Known as Shays’ Rebellion, this uprising was fueled by oppressive taxes and relentless collection practices.
While Americans have always respected the notion of prosperity, they harbor a profound distrust of excessive wealth and luxury, recalling the corrupt aristocracies they sought to escape.
Thomas Jefferson cautioned against an “artificial aristocracy founded on wealth and birth,” asserting that such concentrations of inherited privilege could unravel the republic and replace civic equality with elite dominance. Though Jefferson’s views on equality are complicated by his status as a slaveholder, his advocacy for widespread opportunity—such as laying the groundwork for public education—reflects the aspirations of an emerging society that increasingly contested who had the right to opportunity.
George Washington’s legacy is intertwined with his rejection of British hierarchy, and the Revolution he helped lead symbolized a stand against inherited privilege. Yet, he too was a slaveholder and engaged in land speculation, prioritizing profits in ways that conflicted with the republican vision. This duality was frustrating to many small farmers, particularly in western Pennsylvania, who felt disenfranchised by the overlap of elite privilege and republican ideals.
The tumult reached a boiling point during the Whiskey Rebellion, a subject of one of Hogeland’s works, as citizens questioned whether the new government would uphold its anti-elite promises or merely establish a new center of power that constrained frontier communities. The federal tax on whiskey placed significant burdens on farmers who relied on distilling for their livelihoods, ultimately becoming a symbol of elite favoritism and federal overreach. When Washington backed a federal response to quell the rebellion, it highlighted a harsh reality for many: independence alone did not eradicate privilege.
This teaches us that people must continually resist if they hope to secure genuine opportunity—a truth that resonates throughout America’s 250 years of struggle.
While many celebrate the abolitionists who ended slavery, the women’s suffrage movement, and the Civil Rights Movement’s fight against segregation, there are lesser-known instances where ordinary people clashed with powerful interests, leaving an indelible mark on history. In 1932, the Bonus Army comprised thousands of World War I veterans who marched on Washington, D.C., urging early payment of promised benefits. Their protest was met with military force, starkly illustrating how the state could resort to violence against its citizens. Another significant but often overlooked event was the Battle of Blair Mountain, where West Virginian coal miners armed themselves against mine operators and their private security. This confrontation represented one of the largest labor uprisings in U.S. history, a fight for fair wages and dignified lives.
More recently, the Occupy Wall Street movement emerged in response to the 2008 financial crisis, challenging the pervasive inequality that undermined many Americans’ lives. Although mainstream media often dismissed the movement, it successfully reframed societal discussions around wealth and class and highlighted the need for accountability from those at the top, whether on Wall Street or within Silicon Valley.
Today, resentment toward corporate elites is palpable. Recent polls indicate that over 80% of Americans support taxing the wealthy and large corporations, believing the growing wealth gap to be a pressing concern. Additionally, only about a quarter of Americans feel the current economic system serves the needs of most citizens.
Various national surveys, including those from Gallup and Navigator Research, consistently reveal widespread support for measures to close tax loopholes for the affluent, limit the influence of dark money in politics, and reform systems that allow corporations to exert control over governmental decisions.
Surveys show a general mistrust towards prominent tech CEOs; figures like Mark Zuckerberg and Elon Musk receive notably negative ratings, with many Americans rejecting the idea that such excessive executive pay packages reflect a fair economic balance.
A significant generational shift is also occurring. Younger generations, particularly Gen Z and millennials, are increasingly wary of extreme wealth, questioning whether the economic system provides authentic opportunities for success or merely reinforces existing social hierarchies. Polling shows these young adults are more likely to voice concerns over job security in an ever-evolving economic landscape and are ready to confront perspectives that benefit only a select few.
Their instinct to resist represents the essence of our national identity. Remembering our past isn’t merely nostalgia; it’s a means of vigilance against the tendencies of power to consolidate in the hands of the few, reminding us to continuously challenge it.
May the new generation carry this torch forward. Happy 250th anniversary, America.
____
1 To summarize, the U.S. once had numerous public banks. Searching for this history often leads to silenced narratives, as many closed due to corruption, complicating the implementation of what could otherwise be a commendable idea.
