Saving Capitalism: For the Many, Not the Few

In the Introduction to Saving Capitalism: For the Many, Not the Few, author Robert B. Reich discusses the current state of capitalism in America today and how, in his view, US economic and political systems went from benefiting a burgeoning middle class to benefiting only the wealthy. He explains that, whereas in the mid-20th century, workers’ earnings doubled along with the American economy, over the last several decades, only the earnings of CEOs have grown alongside the economy. Whereas CEOs used to earn roughly 20 times more than their workers, now they earn substantially over 200 times what the typical worker gets. Along with globalization and technological changes that have made American workers increasingly expendable, Reich argues that the “increasing concentration of political power in a corporate and financial elite” is to blame (xiii). Rather than addressing the true reasons for this dramatic shift, he considers that the debate has been framed by ideologues that pit the merits of the free market against an activist and overreaching government.

Reich lays out what each section of his book will address concerning the current problems with capitalism. Part 1 explains that markets require rules and that the rules have been manipulated by the powerful and wealthy at the top.