Though he tackles daunting ideas in economics and politics, Reich uses clear language that makes his arguments understandable even to readers who are not well versed in those subjects. This decline is due to an erosion of bargaining power by middle class workers that has led to stagnant wages and poor employment conditions. Or look at ways in which contracts between big companies and their employees or consumers now have mandatory arbitration clauses to force people to go to an arbiter picked by the company. Share on facebook . For example, drug companies receive patents for drugs that they can then produce exclusively. This would give corporations an economic incentive to increase wages for workers. The majority must regain influence over the rules of the market in order to counteract power of moneyed interests and reestablish an economy that benefits all people equally. This reveals a fundamental misunderstanding of the global economy and also the American economy. Monopolies are also dependent on politics. Meanwhile, political power has become increasingly concentrated. Bernie Sanders exemplifies what might be seen as a reformed populist. Why is that?This idea forces us to make a choice that is not the central choice at all. Robert Reich on Why Capitalism Needs Saving - Rolling Stone People who are not part of Washington’s political establishment have been getting a lot of attention this election season. Capitalism is going to become the universal system of economic organization. Donald Trump, although he is a billionaire, he is a guy who is a right-wing populist. In the US, cynicism and apathy are rampant in politics. This thinking has a distinctly moral bent to it – nature is virtuous, right, and just by definition. This could be a problem, because economies are based on trust. For example, one quarter of all American workers in 2013 held jobs that paid below what was necessary for a family of four to live above the poverty line. I think Obama is an incrementalist. From the author of Aftershock and The Work of Nations, his most important book to date—a myth-shattering breakdown of how the economic system that helped make America so strong is now failing us, and what it will take to fix it. 11 January 16 . It’s a long way from Medicare for All, from single-payer, or even a Medicare for All option, which would be a step in the right direction. Capitalism's global elite is under assault for abusing its power as well It first took root during the Enlightenment in 18th century France, when thinkers were preoccupied with natural rights and the order of nature. He outlines some of those solutions, emphasizing that an alternative solution is entirely within reach. This is not just a problem for the unemployed, but also for people who are employed full-time. There is a very big factor, and that is politics. Saving Capitalism Book Summary, by Robert B. Reich, AI Superpowers Book Summary, by Kai-Fu Lee. Anything that alters it is damaging. To accomplish this, the party would need to reform America’s campaign financing system so that politicians can’t be bought by rich people and lobbyists. The majority of people are kept ignorant so that the wealthy minority can hide their real intentions behind this simplistic insistence on freedom. It is a bit odd that when you search for “Robert Reich” on Google you find this. Capitalism is a social system adopted by many Western countries. Download "Saving Capitalism Book Summary, by Robert B. Reich" as PDF. By Robert Reich. Economic inequality is shaping up to be one of the central debates of the 2016 election: Those on the left – most notably Bernie Sanders – decry the increasing wealth and power of those at the very top of the economy, while others are left behind.