America was once celebrated for and defined by its large and prosperous middle class. Now, this middle class is shrinking, a new oligarchy is rising, and the country faces its greatest wealth disparity in eighty years. Why is the economic system that made America strong suddenly failing us, and how can it be fixed?
Leading political economist and bestselling author Robert B. Reich presents a paradigm-shifting, clear-eyed examination of a political and economic status quo that no longer serves the people, exposing one of the most pernicious obstructions to progress today: the enduring myth of the “free market” when, behind the curtain, it is the powerful alliances between Washington and Wall Street that control the invisible hand. Laying to rest the specious dichotomy between a free market and “big government,” Reich shows that the truly critical choice ahead is between a market organized for broad-based prosperity and one designed to deliver ever more gains to the top. Visionary and acute, Saving Capitalism illuminates the path toward restoring America’s fundamental promise of opportunity and advancement.
Robert B. Reich
Most Helpful Customer Reviews
Vine Customer Review of Free Product (What's this?)
I have been recommending this book far and wide to anyone and everyone who will listen. Not necessarily because I agree with everything in the book, but because of Reich’s simple, laymen explanation of the building blocks of the “free” market – property, monopoly, contract, bankruptcy and enforcement – and how those elements are, in fact, determined by the government. As Reich himself says repeatedly throughout the book, it’s not a conflict between “government” on one hand and the “free market” on the other hand. The government, through laws, regulations and judicial proceedings, actually creates the market. It’s not even a matter of the size of the government – “big government” vs. “small government”. It’s a matter of who controls the government and in whose interests these laws, regulations and judicial proceedings work – the majority of the people/society as a whole? Or...
Vine Customer Review of Free Product (What's this?)
I have read a few books by Robert Reich and generally enjoyed them. His book "Locked in the Cabinet" is probably one of the greatest expositions on serving as a secretary (in his case in Secretary of Labor during the first Clinton term) and dealing with a government bureaucracy as exists. Moreover, his book The Work of Nations was also a very interesting book about how the economy was changing on the 1990's. And, a lot of his descriptions have turned out to be accurate. Of course, I also read a book he wrote on the 1980's about how Japan was going to rule the world. That book was a product of it's time and was pretty incorrect in many ways.
In that context, I was offered the chance to read through and review an advance copy of the book. If you have an interest in economic issues that is aimed for the general lay-reader, this is a valuable and interesting read. Reich's critique is aimed at showing how the American landscape is changing in ways perceptive...
"Saving Capitalism" is the best explanation of the current economic situation in America that I have ever read. Reich proposes somewhat progressive solutions to the massive problems, not necessarily by expanding government, but by changing the way government sets the rules of the marketplace. Robert Reich points out that there is no such thing as a free market in nature. Every market in the history of civilization has been regulated by some authority, usually government. Whether governed by pharaohs or kings or democratically-elected congresses, some authority must set the basic rules by answering the following questions about the five building blocks of capitalism: 1. Property: What can be owned? 2. Monopolies: What degree of market power is allowed? 3. Contracts: What can be bought and sold? On what terms? 4. Bankruptcy: What happens when purchasers can't pay? 5. Enforcement: How do we assure that no one cheats on these rules...
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