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In the late nineteenth century, monumental technological innovations like the telegraph and steam power made America and the world a much smaller place. New technologies also made possible large-scale organization and centralization. Corporations grew exponentially and the rich amassed great fortunes. Those on the short end of these wrenching changes responded in the Populist revolt, one of the most effective challenges to corporate power in American history.

But what did Populism represent? Half a century ago, scholars such as Richard Hofstadter portrayed the Populist movement as an...

In the late nineteenth century, monumental technological innovations like the telegraph and steam power made America and the world a much smaller place. New technologies also made possible large-scale organization and centralization. Corporations grew exponentially and the rich amassed great fortunes. Those on the short end of these wrenching changes responded in the Populist revolt, one of the most effective challenges to corporate power in American history.

But what did Populism represent? Half a century ago, scholars such as Richard Hofstadter portrayed the Populist movement as an...