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Saving Capitalism: For The Many, Not The Few

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.

Paperback: 304 pages

Publisher: Vintage; Reprint edition (May 3, 2016)

Language: English

ISBN-10: 0345806220

ISBN-13: 978-0345806222

Product Dimensions: 5.1 x 0.7 x 8 inches

Shipping Weight: 8 ounces (View shipping rates and policies)

Average Customer Review: 4.6 out of 5 stars  See all reviews (286 customer reviews)

Best Sellers Rank: #7,673 in Books (See Top 100 in Books) #4 in Books > Business & Money > Economics > Free Enterprise #5 in Books > Business & Money > Economics > Income Inequality #9 in Books > Politics & Social Sciences > Politics & Government > Specific Topics > Political Economy

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 a rich and influential few? Furthermore, Reich destroys the notion that those rich and influential few deserve the power and wealth that they control because they have “earned it”.After an introductory chapter, Reich spends the first five chapters explaining each of the building blocks of the market and how those can be manipulated to either protect and support the majority of the people or to promote the interests of the powerful few. What types of things can be owned and how is that ownership allocated? Tangible goods may be obvious but what about intangible things like intellectual property, large platforms like the internet or cable, or even labor? Furthermore, what share of any particular market is it okay for any individual or corporation to own? What kinds of contracts can be made, especially in situations in which the parties to a contract may not have equal power?

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