Saving Capitalism audiobook cover - For the Many, Not the Few

Saving Capitalism

For the Many, Not the Few

Robert B. Reich

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PoliticsEconomics

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Saving Capitalism
The Myth of the 'Free' Market+
Rules Are Rigged for the Wealthy+
The Illusion of Meritocracy+
Decline of Middle Class Power+
Dangers of Extreme Inequality+
Solutions to Save Capitalism+

Quiz — Test Your Understanding

Question 1 of 7
According to the text, what is the primary flaw in the conservative view of 'free' markets?
  • A. It assumes markets operate best under strict international laws.
  • B. It fails to recognize that governments actually create markets by setting their foundational rules.
  • C. It relies too heavily on the complete abolition of private property.
  • D. It underestimates the efficiency of government intervention in setting consumer prices.
Question 2 of 7
How does the pharmaceutical industry illustrate the political nature of property rights?
  • A. Companies use legal loopholes to extend patents, showing that government prioritizes private property over public access to medicine.
  • B. The government strictly limits drug prices to ensure all citizens have access, regardless of who holds the patent.
  • C. Pharmaceutical companies are forced to share intellectual property with competitors after five years of initial production.
  • D. The industry operates entirely outside of government regulation, proving that free markets can self-regulate effectively.
Question 3 of 7
How do current bankruptcy laws disproportionately favor the wealthy and major corporations?
  • A. They force wealthy individuals to pay out severance packages before they can legally liquidate their assets.
  • B. They require corporations to enter mandatory arbitration with their employees before declaring bankruptcy.
  • C. They allow corporations to avoid the financial consequences of missteps while leaving laid-off workers with no protections.
  • D. They provide state-funded bailouts exclusively to businesses that employ more than 1,000 workers.
Question 4 of 7
What is the text's view on the concept of 'meritocracy' in today's capitalist society?
  • A. It accurately reflects how hard work and intelligence correspond directly to high salaries.
  • B. It is a fundamental truth that ensures social workers and teachers are compensated fairly for their societal contributions.
  • C. It explains why CEO pay has naturally and justifiably increased to over 300 times that of the average worker.
  • D. It is a misleading idea used to make low-wage workers blame themselves for their poor compensation.
Question 5 of 7
Which of the following is cited as a primary reason for the decline in the American middle class's bargaining power since the 1980s?
  • A. The rapid transition from a manufacturing economy to a service-based economy.
  • B. The drastic downfall of labor unions and high unemployment rates.
  • C. The introduction of universal health insurance, which lowered base wages.
  • D. The excessive increase in federal regulations regarding workplace safety.
Question 6 of 7
Why is the declining economic power of the middle class considered a direct threat to the capitalist economy itself?
  • A. It causes the middle class to save too much money, leading to a severe shortage of investment capital.
  • B. As middle-class incomes drop, the economy loses the purchasing power necessary to keep it afloat.
  • C. It forces the government to print more money, inevitably leading to hyperinflation.
  • D. It makes American corporations too dependent on exporting goods to foreign markets.
Question 7 of 7
What specific strategy does the author suggest to reinvent the role of corporations and address extreme executive compensation?
  • A. Implementing a strict legal cap on the maximum salary any CEO can earn.
  • B. Requiring all corporations to distribute a mandatory percentage of profits as employee dividends.
  • C. Tying corporate tax rates to the ratio between CEO pay and the average worker's pay.
  • D. Forcing companies to replace human resources departments with independent labor unions.

Saving Capitalism — Full Chapter Overview

Saving Capitalism Summary & Overview

Saving Capitalism (2015) is a biting critique of the world’s economic order but also an optimistic look into how capitalism could support the common good. These blinks will teach you how and why capitalism is failing most people, and where it needs to go to do right by the majority.

Who Should Listen to Saving Capitalism?

  • Economists and students of capitalistic systems
  • Anyone living and working in a capitalistic society
  • Activists and people fighting for social justice

About the Author: Robert B. Reich

Robert B. Reich is the Chancellor’s Professor of Public Policy at the University of California at Berkeley. Prior to this, he served in three presidential administrations, most recently as labor secretary under former US President Bill Clinton.

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