Wednesday, September 19, 2007

Supercapitalism ( is a new book by economist Robert Reich ( I first heard about this new book from a Fresh Air interview ( Terri Gross. Then, it seemed like every time I looked up somebody was talking about this book. At this point I feel I need to be forthright and disclose that Dr. Reich ( my main man for economic policy. He is a true progressive in my mind. He believes government is created to do for the public good what the often limited resources of the individual or a smaller governmental institutions (state. and municipalities ) can't do. We progressives, believe the Fed should have major social programs like national healthcare, Social Security, and Unemployment insurance. The Federal Government's welfare is not for people to make a living off of (I don't see how anyone could do that anyway) but to give them assistance in times when they are in need.
In Dr. Reich's new book (, he argues that the demand for low, low prices by consumers, and higher returns for investors has put corporations in a bind. On the one hand, the demand for lower prices means a need for lower labor cost, which
impacts US jobs one way or the other. On the other hand, the demand higher returns means keeping overhead down so you can maximize profit, this often results in companies downsizing or outsourcing. The pressure on the American Labor force effects workers' incomes, so basically our demand for these things put pressure on our jobs; we are slitting our own throats. Pretty insightful, don't you think? This book is next on my reading list, be on the look out for insights from the book as I read it.

Finally, here's some youtube footage of Dr. Reich ( this book.

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