Summary of Supercapitalism

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Supercapitalism
Capitalism expanded the U.S. middle class and balanced citizens’ interests; “supercapitalism” threatens such benefits.

Rating

8 Overall

8 Importance

9 Innovation

8 Style

 

Review

Robert Reich, President Bill Clinton’s secretary of labor and one of the most provocative public intellectuals in the U.S., unflinchingly explores the transformation of American democratic capitalism into a system of “supercapitalism,” in which corporations and the market exercise apparently unbridled power. Reich considers and then discards most, if not all, of the standard leftist explanations for this development. Instead, in a logically coherent analysis, he arrives at some startling but convincing conclusions. For example, arguing that the government should never treat corporations like people, Reich advocates eliminating the corporate income tax. getAbstract recommends this book to anyone who wants to understand today’s economics, politics or fiscal events. Although recent legislation attempts to address some of the issues Reich raises, such as the flow of corporate money into political campaigns, his analysis is still relevant.

In this summary, you will learn

  • How a delicately balanced system of democratic capitalism gave way to a new system of supercapitalism
  • What the consequences of supercapitalism are
  • How citizens can restore the balance
 

Summary

Success and Less
The purpose of capitalism is to create wealth. Judged by this standard, U.S. capitalism has been remarkably successful. Companies have steadily become more profitable and more productive, able to do more with less. For the past 30 years, the stock market has been moving...
Get the key points from this book in less than 10 minutes.

About the Author

Robert B. Reich is professor of public policy at the University of California at Berkeley. He was secretary of labor under President Bill Clinton. In 2003, he received the Václav Havel Foundation Prize for pioneering work in economic and social thought.


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