Supercapitalism (E-Book)

From the greatly admired author of The Work of Nations and The Future of Success, one of America's greatest economic and political thinkers as well as a distinguished public servant in three national administrations, a breakthrough book on the clash between capitalism and democracy.

Mid-twentieth-century capitalism has turned into global capitalism, and global capitalism—turbocharged, Web-based, and able to find and make almost anything just about anywhere—has turned into supercapitalism. But as Robert B. Reich makes clear in this eye-opening book, while supercapitalism is working wonderfully well to enlarge the economic pie, democracy—charged with caring for all citizens—is becoming less and less effective under its influence.

Reich explains how widening inequalities of income and wealth, heightened job insecurity, and the spreading effects of global warming are the logical outcomes of supercapitalism. He shows us why companies, fighting harder than ever to maintain their competitive positions, have become even more deeply involved in politics; and how average citizens, seeking great deals and invested in the stock market to an unprecedented degree, are increasingly loath to stand by their values if it means biting the hands that feed them. He makes clear how the tools traditionally used to temper America's societal problems—fair taxation, well-funded public education, trade unions—have withered as supercapitalism has burgeoned.

Reich sets out a clear course to a vibrant capitalism and a concurrent, equally vibrant democracy. He argues forcefully that the spheres of business and politics must be kept distinct. He calls for an end to the legal fiction that corporations are citizens, as well as the illusion that corporations can be "socially responsible" until laws define social needs. Reich explains why we must stop treating companies as if they were people—and must therefore abolish the corporate income tax and levy it on shareholders instead, hold individuals rather than corporations guilty of criminal conduct, and not expect companies to be "patriotic." For, as Reich says, only people can be citizens, and only citizens should be allowed to participate in democratic decision making.

From the Hardcover edition.

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Title of ebook: Supercapitalism (E-Book)
ISBN: 9780307267856
parent-ISBN: 9780307265616
Publisher: Knopf Publishing Group
Published: 09-2007
Released online for download: 09-04-2007
Author of eBook: Reich, Robert B.

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Supercapitalism

The Transformation of Business, Democracy, and Everyday Life
Chapter One: The Not Quite Golden Age

Roughly between 1945 and 1975, America struck a remarkable accommodation between capitalism and democracy. It combined a hugely productive economic system with a broadly responsive and widely admired political system. America in those years achieved its highest degree of income equality (since measurements have been available). It generated a larger proportion of good-paying jobs than before or since, and more economic security than ever for more of its people. Perhaps not coincidentally, in those years Americans also expressed high confidence in democracy and trust in government, both of which sharply declined in subsequent years.[1] That singular success and that powerful promise extended the moral authority of the American system throughout the world. In contrast to Soviet communism, America became an exemplar of both political freedom and suburban middle-class affluence.

The economy was based on mass production. Mass production was profitable because a large middle class had enough money to purchase what could be mass-p ... read full excerpt from: Supercapitalism (E-Book) ebook

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