Robert B. Reich

Explores the familiar assessments of contemporary American mainstream (rightist) economic and social policy thinking initiated by Reagan and Thatcher in the 1980s. The author supports the diagnosis that unbridled pursuit of private gain is weakening the social contract, in America and the capitalist part of the world. His prescriptions for mitigating the negative effects of this unregulated pursuit of private profit, as outlined in the final chapter 'A New Deal for the Middle Class', include : a 'reverse income tax' or 'wage supplement' to put spending money back into tha hands of the least well-off; a carbon tax on fossil fuels; higher marginal tax rates on the wealthy; a 'reemployment system' that will help people who lose their jobs to get back into the jobs market; school vouchers based on family income; lightening the burden of college loans so that the less wealthy are not deterred from seeking higher education; Medicare for all; a sizeable increase in public goods like public transportation, public parks, museums, librarries; reducing the role of money in politics. The whole picture is one of Social Democracy as developed in Western Europe, in contrast to the unfettered private financial capitalism of the Reagan-Thatcher axis.… (mer)

Digestible and timely overview of the growing influence of corporations in setting American public policy in their favor, while exiling the needs of American workers and average citizens. Reich goes into depth to unpack the effects of lobbying and huge political campaign donations in eroding reforms intended to control monopoly power and elevate worker voice through labor institutions. The general thesis is that our democracy has been replaced with an oligarchy that sets the rules of the so called "free market."

The "How We Fix It" part is generally lacking, beyond encouraging active citizenship and educating the elite (specifically Jamie Dimon) on the nature of their power. But I appreciate that this book makes salient the ways that our institutions have been corrupted, and the vicious cycle that we are all living through in this moment.… (mer)