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Robert B. Reich

Saving Capitalism: For the Many, Not the Few Paperback – Illustrated, May 3, 2016

by Robert B. Reich (Author)

4.5 1,719 ratings

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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.

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Print length

304 pages
Language

English
Publisher

Vintage
Publication date

May 3, 2016
Dimensions

5.17 x 0.63 x 8 inches
ISBN-10

0345806220
ISBN-13

978-0345806222
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Customer reviews

1,719 global ratings

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Customers say

Customers find the thesis compelling, detailed, and nuanced. They describe the book as a great, satisfying read that accurately examines our present economic situation. Readers praise the writing quality as clear, easy to understand, and academically written. They mention the book is optimistic, inspiring, and offers realistic solutions.

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Insight Readability Writing quality Optimism Value for money Look

119 customers mention "Insight"114 positive5 negative

Customers find the thesis compelling, thorough, and excellently written. They appreciate the detailed and nuanced arguments that make his case. Readers say the book is informative and readable. They mention it describes very clearly how the market is created by rules set by the government.

"This book is well-written and very informative...." Read more

"This is an excellent overview of how the market is defined and managed by the government, and how the rules managing the market have been subtly..." Read more

"...This book is a profound account of a very thoughtful and very well informed intellectual. It will shed light on some very troubling issues...." Read more

"...Two stars for giving good data and making clear, concise points. But Reich needs to not be so one-sided with his talking points." Read more

116 customers mention "Readability"111 positive5 negative

Customers find the book great, satisfying, and rich on both details of inequality in the USA. They say it's revealing and important, and a must-read for every American that wants to learn what ails our country. Readers also mention the author doesn't waste any readers' time and keeps their interest throughout the book.

"The book is extremely rich on both the details of inequality in the USA and the legislative enactments that have made it possible...." Read more

"...for days on the topic after I finished reading making it more than worth my time." Read more

"...of the capitalist system, which are among his favorite topics, make for fun writing, allowing even those less literate than he to wax wroth about..." Read more

"Excellent read!..." Read more

66 customers mention "Writing quality"58 positive8 negative

Customers find the writing quality of the book well-written, easy to read, and understand. They also appreciate the clear expression and precise focus on the topic. Readers mention the book is a quick read and they will close it feeling more informed.

"This book is well-written and very informative...." Read more

"...The book is thorough in its exposition and excellently written: information is very well organized, documented, explained and full of examples...." Read more

"...The book is relatively short. It is academically written, by a serious academic writer who has had the opportunities to see into government at the..." Read more

"...Well this book is a great eye opener in to corporate greed in America and income inequality facing us working folks...." Read more

10 customers mention "Optimism"10 positive0 negative

Customers find the book optimistic, inspiring, and offers realistic solutions. They also say it has many feasible and appropriate remedies for these problems.

"This is an inspiring book. The copyright date is 2016, and it was clearly written before the emergence of Donald Trump as President...." Read more

"...It is an optimistic book." Read more

"...all the despicable doom and gloom he must illuminate, Robert STILL is hopeful and optimistic...." Read more

"...why the middle class is getting shafted by the wealthy but also offers solutions...." Read more

8 customers mention "Value for money"8 positive0 negative

Customers find the book great for the price and say it's an important and thorough look at the economic aspect of what is wrong in America today. They also mention it's a great book for free market capitalists who are disgusted by today's crony capitalism.

"...can replace almost any redundant and repetitive function at very low operating costs...." Read more

"...and saving money is so important and this was so worth it and such a good price!" Read more

"This is an important and thorough look at the economic aspect of what is wrong in America today- and since many of our other ills spring from the..." Read more

"...What he has to say seems perfectly reasonable." Read more

5 customers mention "Look"5 positive0 negative

Customers find the book fascinating and realistic. They say it provides a genuine explanation and goes into great detail.

"Fascinating and realistic look at how wealth has been made and distributed in the USA since the end of the 20th century...." Read more

"This is a must read!! It is a very comprehensive look at the US problems of living, not in a free-market economy, but in a corporatist economy where..." Read more

"...value but I place this work as the most relevant to our day and provides a realistic and genuine explanation of the challenges that face our nation...." Read more

"...Reich goes in to great detail and explains so many issues with todays worker with real life stories for examples...." Read more

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Paul W.

Invaluable data on structural inequality, so why the desire to save capitalism?

Reviewed in the United States on January 24, 2017

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The book is extremely rich on both the details of inequality in the USA and the legislative enactments that have made it possible.

When it comes to what to do about it, Reich speaks of countervailing power (within a capitalist framework, as the title makes clear). He believes that different enactments could indeed reduce inequality without the need to get into left-right arguments about the appropriate size of government or even any debate about a possible shift towards socialism. For example, he says in Chapter 17 ('The Threat to Capitalism') that 'Americans have always tended to choose pragmatism over ideology'... {that} whenever capitalism has before reached points of crisis, we have not opted for communism or fascism or any other grand scheme. Again and again we have saved capitalism from its own excesses by making necessary corrections'.

For a book published in 2015, Chapter 19 ('Restoring Countervailing Power') is very percipient, reading ahead of time the populism that propelled Trump to the Presidency in 2016. He is clear that the countervailing power will not come from the Democratic Party until it re-invents itself, reminding us that during the election campaign big business very much favoured Clinton over the anti-establishment stance of most Republican front-runners (including Trump of course).

Whether the protests that started the day after Trump's inauguration signal the new beginnings of an effective countervailing power remain to be seen. Quite appropriately, those protests were triggered by Trump's misogynist views. But will these and future broader-based protests be enough to push capitalism back into (???) a progressive populist direction? Or will the clash lead to a bigger government role and an adoption of socialist practice that Reich seems to believe could not be democratic (for reasons that he does not discuss in this book despite his strong support for Bernie Sanders)?

Reich provides us a wealth of invaluable information but doesn't help us to identify the (within capitalism) that will change the thirty-year drift towards ever greater inequality and now with Trump, the rush towards fascism.

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William

This Is A Well-Written And Very Informative Book.

Reviewed in the United States on February 22, 2016

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This book is well-written and very informative. It says that the invisible hand of the marketplace is connected to a wealthy and financially muscular person who exerts a lot of influence. Some people extol freedom without acknowledging the growing imbalance of power in our society. Here are some of the additional things the author of this book mentions: Permitting drug companies to prolong their patents has kept prescription drug prices higher in the United States than in Canada and much of Europe. Those who owned large amounts of land saw their wealth increase dramatically even if they did nothing but rent the land. What is labeled by some as the “free market” is not truly completely free when sometimes in some instances people have essentially no choice. Some people believe that the economic system is rigged. It is difficult to hold to the belief that people are worth what they’re paid when more and more individuals who are working Full-Time do not get paid enough to lift their families and themselves out of poverty, while another group has so much wealth, much of it inherited. Presently 43% of children born into poverty in the United States will remain in poverty for their entire lives. The author of the book mentioned that Thomas Paine wrote Agrarian Justice published in 1797. He said that private property was a human contrivance. The Earth was considered “common property” when people were hunters and gatherers. But with the coming of agriculture, property took the form of the right to exclude others. The author of the book mentions that the market is a human creation based on rules human beings devise.

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Trisha Vossman

informative and thought provoking

Reviewed in the United States on November 2, 2019

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This is an excellent overview of how the market is defined and managed by the government, and how the rules managing the market have been subtly altered over the years to benefit the top 1 percent (crony capitalism). The book then goes over potential solutions to the problem, some fixing/reverting the rules and others addressing the symptoms (minimum wage, unions).

Interestingly, the last 2 chapters of the book discusses a completely unrelated problem that presents an even bigger danger to income inequality. The rise of automation has been pushing manufacturing jobs to service and making "problem solving" jobs more and more of a premium. In fact, the real danger is that eventually all of the manufacturing and much of the service jobs will be completely crowded out by automation. The only solution proposed for this eventuality is to provide a minimum standard living allowance to all Americans.

Personally, I find it a little ironic that some of the solutions proposed for crony capitalism (minimum wage, unions) will tend to increase the cost of labor and exacerbate the presumably more dangerous automation issue. I also do not share the authors belief that it would be in any way a good thing to provide all Americans unconditionally a minimum standard of living with limited incentive to generate more income. In general, I think humans need some kind of purpose and structure in there lives. There are exceptions, like the authors suggested "starving artist", but for the majority I think such an environment would have a very negative social impact. Personally, I think if it really came to this a better solution would be to tie that income to some form of government employment, not necessarily because I think it will generate additional productivity (I'm not sure that it will) but because I think it will ultimately provide benefits to both the individual and society.

Regardless, even though I disagree with some of the authors solutions, the book had me thinking for days on the topic after I finished reading making it more than worth my time.

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Top reviews from other countries

Roger

EYE OPENING AND DISTRESSING

Reviewed in Italy on September 18, 2023

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Incredibly deep insights into the most dysfunctional country in the developed world, which still tries to hail itself as a beacon of democracy (!) and has its fingers in the pie of every geopolitical disaster of the last fifty years. The statements made can be researched and are backed by facts. The reading is captivating and distressing at the same time. A great professional has written a state-of-the art reminder of the need of ethics to come at last to be applied to a nation of lost people.

A Amarender Reddy

A must read for citizens of capitalist society

Reviewed in India on May 5, 2023

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Saving Capitalism: For The Many, Not The Few is a timely and provocative book by Robert B. Reich, a former US Secretary of Labor and a professor of public policy at the University of California, Berkeley. In this book, Reich challenges the conventional wisdom that the free market is the best guarantor of freedom, prosperity and democracy. He argues that the market is not a natural or neutral force, but a human creation that reflects and reinforces the power of those who shape its rules and institutions. He exposes how the wealthy and influential have rigged the system to their advantage, creating a new oligarchy that undermines the common good and threatens the future of the American experiment.

Reich does not advocate for abandoning capitalism, but for saving it from its own excesses and distortions. He calls for restoring the countervailing power of the many - the workers, consumers, small businesses, citizens and public servants - who can balance and check the power of the few. He proposes a series of reforms to make the market more responsive to the needs and preferences of the majority, such as raising the minimum wage, expanding the earned income tax credit, strengthening antitrust laws, reforming campaign finance, regulating Wall Street, investing in education and infrastructure, and expanding social security and health care.

Reich writes with clarity, passion and conviction, drawing on his extensive knowledge and experience as an economist, a policymaker and a public intellectual. He combines empirical evidence, historical analysis, moral arguments and personal anecdotes to make his case compelling and accessible. He also anticipates and addresses some of the common objections and criticisms that his proposals might face from different ideological perspectives. He does not claim to have all the answers or to offer a silver bullet solution, but he invites readers to join him in a constructive dialogue about how to make capitalism work for the many, not the few.

Saving Capitalism: For The Many, Not The Few is a must-read for anyone who cares about the state of American democracy and economy in the 21st century. It is a book that challenges us to rethink our assumptions, to question our complacency, and to act on our responsibility as citizens. It is a book that offers hope and inspiration for a more fair and sustainable future.

Israel Bloesch

How to play capitalism with brand new fair rules.

Reviewed in Spain on October 1, 2022

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There’s no doubt we are in the edge between utopia and distopia and the key to resolve the question is how democracy will remodel capitalism.

Fabricio Ribeiro

Impressive

Reviewed in Brazil on February 7, 2020

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It's a clear idea of what are the real forces that governs our political activities. Though it has been written by a USA perspective, the general frame reflects perfectly the Brazilian reality too.

J. lee

Really great read. I think a lot of people may ...

Reviewed in the United Kingdom on May 20, 2018

Verified Purchase

Really great read. I think a lot of people may dismiss Robert Reich after hearing that he served in Bill Clinton's administration, supported Bernie Sanders in 2016 and is regarded as a very liberal economics and public policy professor. In this book he clearly demonstrates he believes the capitalist, free market society to be the most beneficial to humanity. However his arguments are based on the idea that the current rules regulating said market are currently skewed massively in the favour of major corporations, and those that set the rules are supporting this notion, whether willingly or not.

For people without an economics background this book provides a relatively simple description, with relevant model examples, of these cases, and a limited number of solutions. If i'm . honest from what i hear, a lot of his other books seem to describe exactly the same thing, so i'm going to be cautious in choosing to buy any of his future books.

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