The elites in finance

"Great Britain and the United States became rich because their citizens overthrew the elites who controlled power and created a society where political rights were much more broadly distributed”

-Why Nations Fail

The authors focus on the role of democracy and right on the development of country wealth. Do we have to look at this more closely today? Is there financial democracy? We are not talking about the socialism of lending or the access of consumer credit but the broader issue of how businesses thrive in a environment of restrictions which place a premium on size. 

Is the US driven by crony capitalism? We are not hearing these questions asked by those who are knowledgeable about finance.