Great points, Bob. I don’t mean to imply here that Adams was somehow sinisterly plotting against what most of us think of when we think of “democracy.” Rather, I want to highlight that even the founders were aware of the fallibility of the system they were establishing. Also, there was lively debate among the Federalists and the Anti-Federalists, as it were, over the ability of the central government to concentrate power.

I am fairly certain that many of those who contributed to discussions around the founding documents anticipated some kind of great divide of power based on wealth in the system they were debating. I do think, however, that they all would stare in gaping horror at the system we have today that, for some reason, people still call “democracy.” Corporate personhood and the fact that corporate lobbyists literally write the bills that will ultimately regulate their industry, for instance, would probably give the founders all aneurysms, yet we consider it acceptable today.

I believe they were all well aware of the facility of wealth to beget power to beget more wealth. But I don’t think any of them would believe just how bad it’s gotten since their time.